Bond yields traded higher on Monday as Minister of State for Commerce and Industry Jitin Prasada has said that foreign direct investment inflows in the manufacturing sector during 2014-24 rose by 69 per cent to $165.1 billion. He said that India is rapidly emerging as a preferred country for foreign investment in the manufacturing sector.
In the global market, U.S. Treasury yields were lower Friday as investors continued to assess the state of the U.S. economy after labor data buoyed sentiment. Furthermore, oil prices decreased on Friday, due to continuing effects of recession fears in the US, cease-fire attempts in the Middle East, while positive demand outlook in the US, and growing rate cut signals from the US Federal Reserve (Fed) limited further price falls.
Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.99% from its previous close of 6.88% on Friday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.91% from its previous close of 6.79% on Friday.
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