Bond yields were trading higher on Monday after Commerce and Industry Minister Piyush Goyal has said India's merchandise exports have reached almost $390 billion as of March 14 and will cross $400 billion in the current financial year (FY22).
In global front, Long-term U.S. Treasury yields edged down on Friday as lack of a resolution of the Russia-Ukraine conflict continued to weigh on markets, while short-term yields kept rising on the back of a hawkish U.S. central bank, further flattening the curve. Furthermore, Oil prices jumped $2 as Ukrainian forces dug in against heavy Russian attacks, while major oil producers reported they are struggling to produce their allotted quotas under a supply agreement.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.79% from its previous close of 6.77% on Thursday.
The benchmark five-year interest rates were trading 2 basis points higher at 6.04% from its previous close of 6.02% on Thursday.