Bond yields traded flat on Monday after the Reserve Bank of India (RBI) data showed that India’s forex reserves declined by $2.36 billion to $583.53 billion during the week ended October 20.
In the global market, U.S. Treasury yields ticked down on Friday as investors parsed economic data that could affect the Federal Reserve’s monetary policy and provide hints about the state of the economy. Furthermore, oil prices rose around 1% a barrel on Friday as investors priced in fears of an escalation of conflict in the Middle East which could disrupt oil supplies, after reports that the US military had struck Iranian targets in Syria.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.35% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.35% from its previous close of 7.34% on Friday.