Bond yields edged lower on Monday amid data released by the Ministry of Labour & Employment showed that the retail inflation for agricultural labourers (CPI-AL) and rural workers (CPI-RL) remained almost unchanged at 7 per cent and 7.02 per cent respectively in May 2024.
In the global market, treasury yields ended with minor gains Friday, locking in a modest rise in a holiday-shortened week as investors await further data on the labor market and inflation for clues to the Federal Reserve’s rate path. Furthermore, crude prices eased about 1% on Friday on worries that global oil demand growth could be hit by a strong U.S. dollar and negative economic news from some parts of the world.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.95% from its previous close of 6.97% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.00% from its previous close of 6.99% on Friday.