Bond yields traded higher on Monday as a private report said that India's per capita income is expected to grow to $4,000 by 2030 from $2,450 currently, helping it become a middle-income country with a GDP of $6 trillion.
In the global market, U.S. Treasury yields declined on Friday as the Federal Reserve’s preferred inflation gauge showed that price increases cooled in June. Furthermore, oil prices rose on Friday and notched a fifth straight week of gains as investors were optimistic that healthy demand and supply cuts will keep prices buoyant.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.17% from its previous close of 7.16% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.15% from its previous close of 7.14% on Friday.