Bond yields traded flat on Monday amid the output of eight core industries grew 4.3 per cent year-on-year in May 2023, the same rate as in the previous month, but much slower compared with 19.3 per cent in the year-ago period. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
In the global market, Treasury yields fell on Friday after U.S. consumer spending slowed more than expected in May, though futures still priced in the likelihood that the Federal Reserve resumes raising interest rates next month. Furthermore, oil prices settled higher on Friday but posted their fourth straight quarterly loss as investors worried that sluggish global economic activity could crimp fuel demand.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.11% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.08% from its previous close of 7.07% on Friday.
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