Bond yields were trading flat on Monday with Commerce and Industry Minister Piyush Goyal’s statement that the country’s goods and services exports are expected to cross $750 billion this fiscal despite the global economic uncertainties. In 2021-22, the country's goods and services exports touched an all-time high of $422 billion and $254 billion respectively, taking the total shipments to $676 billion.
In the global market, U.S. Treasury yields fell on Friday as investors continued to weigh the prospect of further interest rate hikes by the Federal Reserve. Furthermore, oil prices recovered from a brief sell-off to gain by more $1 per barrel on Friday and ended the week higher, driven by renewed optimism around demand from top oil importer China.
Back home, the yields on new 10 year Government Stock were trading flat with its 3 previous close of 7.41% on Friday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.41% from its previous close of 7.39% on Friday.
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