Bond yields traded flat on Monday as economic think tank Global Trade Research Initiative (GTRI) in its latest report has showed that India's exports and imports of goods and services are likely to dip by 2.6 per cent to $1,609 billion in 2023 as against $1,651.9 billion in 2022. However, it noted that robust exports performance in electronic goods, particularly smartphones, and services sectors will help India contain the fall in growth rate of overall trade.
In the global market, the 10-year Treasury note yield slipped Friday, adding to its sharp downturn this week, as traders brace for possible Federal Reserve rate cuts next year. Furthermore, oil prices settled lower Friday, but still notched their first weekly gain in two months as the expectations of U.S. rate cuts next year boosting the economy and crude demand forced the bears to loosen their grip.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.16% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.07% from its previous close of 7.06% on Friday.