Bond yields traded flat on Monday amid Finance Ministry has said that net direct tax collection rose by 11.18 per cent to Rs 3.80 lakh crore till June 17 2023 on higher advance tax mop up. The Advance Tax collections for the April-June quarter of 2023-24 stood at Rs 1,16,776 crore as of June 17, reflecting a growth of 13.70 per cent over the same period last fiscal.
In the global market, US treasury yields moved higher Friday night with 2-year yields again moving above 4.75% and close to the highs reached after the FOMC earlier in the week. Speeches by Fed officials contributed to the move in Treasuries.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.03% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 6.97% from its previous close of 6.96% on Friday.