Bond yields edged lower on Monday after unemployment rate in India jumped to 7.77 per cent in October 2022 as compared to 6.43 per cent in September 2022 on the account of a sharp increase in rural unemployment.
In the global market, treasury yields climbed on Friday as investors digested further commentary from the Federal Reserve and economic data that showed a drop in jobless claims. Furthermore, Oil prices fell after Chinese health officials on the weekend reiterated their commitment to a stringent COVID containment approach, dashing hopes of a rebound in oil demand from the world's top crude importer.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.44% from its previous close of 7.46% on Friday.
The benchmark five-year interest rates were trading 1 basis point lower at 7.41% from its previous close of 7.42% on Friday.