Bond yields traded flat on Monday, ahead of fresh supply of long-term notes at a debt switch auction today.
In the global market, the Treasury yield curve steepened on Friday to its highest since February 2018 as investors waited to see whether the U.S. Congress would agree on $900 billion in fresh COVID-19 relief by the end of the day. Furthermore, oil prices slid in early trade as a fast-spreading new coronavirus strain in the United Kingdom raised concerns that tighter restrictions there and in other European countries could stall a recovery in the global economy and its need for fuel.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 5.95% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 5.10% from its previous close of 5.09% on Friday.