Bond yields edged higher on Monday after India Ratings and Research (Ind-Ra) has put out a report maintaining a neutral outlook on the finances of Indian states for the fiscal year 2024-2025 (FY25), showing States' aggregate revenue deficit is projected to be 0.4 per cent of gross domestic product (GDP) for FY25, down from 0.5 per cent in FY24.
In the global market, treasury yields jumped on Friday after closely watched nonfarm payrolls data for March surged past expectations. Furthermore, oil prices steadied on Friday as sluggish economic growth in China, the world's biggest crude importer, raised concerns over fuel demand and countered optimism from the signing of a China-U.S. trade deal.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 7.15% from its previous close of 7.11% on Friday.
The benchmark five-year interest rates were trading flat with its previous close of 7.08% on Friday.