Bond yields were trading lower on Monday as the Reserve Bank of India's (RBI) statistical supplement showed India's foreign exchange reserves fell to $560 billion as of the week ended March 10, their lowest since early-December.
In the global market, U.S. Treasury yields were mixed Friday as investors weighed the outlook for stock markets and considered what the Federal Reserve’s next policy moves might be. Furthermore, Oil prices settled lower Friday, reversing early gains of more than $1 a barrel as banking sector fears caused both benchmarks to reach their biggest weekly declines in months.
Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 7.32% from its previous close of 7.35% on Friday.
The benchmark five-year interest rates were trading 3 basis points lower at 7.20% from its previous close of 7.23% on Friday.