Bond yields edged lower on Monday after Reserve Bank of India’s (RBI’s) foreign exchange reserves declined by $1.1 billion to $529.99 billion in the week ended November 4.
In the global market, treasury yields plunged on rising bets the Federal Reserve may slow its pace of rate hikes due to easing inflation. Furthermore, Oil prices settled higher on Friday but fell week-on-week after health authorities in China eased some of the country's heavy COVID-19 curbs, raising hopes for improved economic activity and demand in the world's top crude importer.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.28% from its previous close of 7.30% on Friday.
The benchmark five-year interest rates were trading 2 basis points lower at 7.18% from its previous close of 7.20% on Friday.