Bond yields traded higher on Monday, as DGFT official Amiya Chandra said India has set up a target of $500 billion exports for the 2022-23 fiscal, contending that the COVID-19 pandemic has taught the country to reimagine world trade.
On the global front, U.S. Treasury yields fell on Friday as stock market declines reflected poor risk appetite and as concerns about potential conflict in Ukraine increased demand for the safe haven debt. Furthermore, oil prices jumped as geopolitical tensions in Eastern Europe and the Middle East heightened concerns about an already tight supply outlook, while OPEC and its allies continued to struggle to raise their output.
Back home, the yields on new 10 year Government Stock traded 1 basis point higher at 6.63% from its previous close of 6.62% on Friday.
The benchmark five-year interest rates were traded 1 basis points higher at 6.06% from its previous close of 6.05% on Friday.