Bond yields traded higher on Monday as India's foreign exchange reserves rose $2.3 billion in the week ending August 30 to a new record high of $683.99 billion.
In the global market, 10-year Treasury yields fell to a 15-month low on Friday before paring back in choppy trading as August's payrolls report failed to offer a clear signal on the size of an expected Federal Reserve interest rate cut later this month. Furthermore, Oil prices settled 2% lower on Friday, with a big weekly loss after data U.S. jobs data was weaker than expected in August, which outweighed price support from a delay to supply increases by OPEC+ producers.
Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 6.97% from its previous close of 6.85% on Friday.
The benchmark five-year interest rates were trading 11 basis points higher at 6.86% from its previous close of 6.75% on Friday.
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