Bond yields edged higher on Monday, as Central Board of Direct Taxes (CBDT) has said that the gross direct tax collections have grown 26 per cent to over Rs 13.63 lakh crore so far this fiscal, aided by TDS deductions and healthy corporate advance tax mop-up.
In the global market, 10 and 30-year Treasury yields bounced off their one-week lows Friday, as investors weighed this week’s interest-rate increases by central banks on both sides of the Atlantic and policy makers’ efforts to keep hiking despite the economic cost. Oil futures settled lower on Friday, pressured after major central banks indicated interest rates will continue to rise and remain elevated next year, stoking fears of a global economic slowdown that could lead to lower energy demand.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.28% from its previous close of 7.27% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.15% from its previous close of 7.14% on Friday.