Bond yields traded higher on Monday, as Commerce Ministry in its latest data has showed that India’s merchandise exports snapped six-month losing streak and grew by 5.27 percent to $27.4 billion in September 2020 as compared to $ 26.02 billion in the same month a year ago. Key sectors such as petroleum, leather, engineering goods and gems and jewellery were registering negative growth rates.
In the global market, the benchmark 10-year U.S. Treasury yield rose modestly on Friday, steepening the yield curve, but remained range-bound in spite of news that President Donald Trump has contracted COVID-19 and that U.S. jobs growth slowed in September. Furthermore, oil prices rose about 2%, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive test for COVID-19 sparked widespread alarm.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.00% from its previous close of 5.99% on Thursday.
The benchmark five-year interest rates were trading 2 basis points lower at 5.27% from its previous close of 5.29% on Thursday.