Bond yields edged higher on Monday amid a private report stating that India stands out in the Asian growth narrative, with the RBI's projection of a 7.2 per cent growth rate for 2025 reflecting strong domestic economic fundamentals.
In the global market, the yield on the 10-year Treasury surged Friday as investors assessed a strong nonfarm payrolls number for May that fueled concerns that the Federal Reserve may not cut rates as soon as expected. Furthermore, oil prices edged down on Friday and posted a third straight weekly loss as investors weighed OPEC+ reassurances against the latest U.S. jobs data that lowered expectations that the Federal Reserve will cut interest rates soon.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.03% from its previous close of 7.01% on Friday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.04% from its previous close of 7.02% on Friday.