Bond yields traded higher on Monday as Chief negotiators of India and Australia will begin the next round of talks for the comprehensive free trade agreement from today in Sydney, where both sides are likely to close negotiations on several chapters of the pact.
In the global market, U.S. Treasury yields were lower on Friday as investors weighed this week’s flood of key data and considered the state of the economy. Furthermore, oil prices settled down nearly 2% on Friday, little changed on the week with Brent crude below $80 a barrel, as investors tempered expectations of demand growth from top oil importer China.
Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.97% from its previous close of 6.86% on Friday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.90% from its previous close of 6.78% on Friday.