Bond yields ended flat on Monday after private report said India’s macroeconomic situation is certainly better than what it was a year ago, while expressing hope that the country will be back on the path of economic growth if there is no major third wave of the COVID-19 pandemic.
In the global market, U.S. Treasury debt yields on Friday posted their sharpest drop since the pandemic began as investors rushed toward safe-haven assets following the emergence of a new coronavirus variant in South Africa. Furthermore, oil prices rose, recouping some losses after Friday's plunge of about $10 a barrel, as investors looked for bargains but remained cautious with the focus on the Omicron coronavirus variant and Iran nuclear deal negotiations.
Back home, the yields on new 10-year Government Stock were trading flat with its previous close of 6.33% on Friday.
The benchmark five-year interest rates were ended 2 basis points lower at 5.73% from its previous close of 5.75% on Friday.