Bond yields traded lower on Monday amid a private report stating that India's economy will grow at a solid pace for the rest of this fiscal year and next but well below its potential rate, and the employment situation will improve only slightly.
In the global market, U.S. Treasury yields were flat on Friday as investors weighed what could be on the horizon for interest rates ahead of the Federal Reserve’s meeting next week. Furthermore, Oil prices rose on Friday to record a fourth consecutive weekly gain, buoyed by growing evidence of supply shortages in the coming months and rising tensions between Russia and Ukraine that could further hit supplies.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.06% from its previous close of 7.08% on Friday.
The benchmark five-year interest rates were trading 2 basis points lower at 7.05% from its previous close of 7.06% on Friday.