Bond yields were trading lower on Monday following concerns over the fallout of the collapse of the Silicon Valley Bank in the US.
In the global market, U.S. Treasury yields fell on Friday as the shutdown of Silicon Valley Bank sparked a flight to safer assets such as government bonds. Furthermore, oil prices climbed on Friday after better-than-expected U.S. employment data, though both benchmarks fell more than 3% on the week on U.S. interest rate hike jitters.
Back home, the yields on new 10 year Government Stock were trading 6 basis points lower at 7.36% from its previous close of 7.42% on Friday.
The benchmark five-year interest rates were trading 27 basis points lower at 7.31% from its previous close of 7.40% on Friday.