Bond yields edged higher on Monday with Reserve Bank of India’s (RBI) data showing that India's foreign exchange (forex) reserves rose by $2.315 billion to $573.875 billion for the week ended July 29 on the back of robust capital inflows in the equities markets and strengthening of rupee from the record low.
In the global market, U.S. 10-year Treasury yield rose on Friday on the back of a stronger-than-expected jobs report for July. Furthermore, oil prices fell on Friday on a weakening global demand outlook and the resumption of some Libyan crude oil output.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 7.34% from its previous close of 7.30% on Friday.
The benchmark five-year interest rates were trading 4 basis points higher at 7.05% from its previous close of 7.01% on Friday.