Bond yields traded flat on Monday, amid foreign portfolio investors (FPIs) have pulled out a net Rs 4,615 crore from Indian markets in April so far amid sharp escalation in COVID-19 cases and the consequent restrictions imposed by various states, unnerving overseas investors.
In the global market, U.S. Treasury yields rebounded a bit on Friday from the previous session's tumble to multi-week lows, as Japanese buying and short covering that appeared to be primary factors in the abrupt rally abated. Further, oil prices fell amid mounting concerns that surging caseloads of coronavirus infections in India and other countries will lead to stronger measures and hit economic activity, along with demand for commodities such as crude.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.08% on Friday.
The benchmark five-year interest rates were trading 4 basis points lower at 5.55% from its previous close of 5.59% on Friday.