Bond yields traded higher on Monday even after data shared by the Reserve Bank of India (RBI) showed that India's foreign exchange reserves have experienced a notable decline for the second consecutive week, dipping by $10.7 billion to stand at $690 billion as of October 11.
In the global market, Long-dated Treasury yields slipped from their highest levels in more than two months on Friday, but ended the week little changed, after data showed new-home construction dipped in September. Furthermore, Oil futures fell on Friday, declining more than 7% on the week after data showed China's economic growth slowed and investors digested a mixed Middle East outlook.
Back home, the yields on new 10 year Government Stock were trading 14 basis points higher at 6.94% from its previous close of 6.80% on Friday.
The benchmark five-year interest rates were trading 10 basis points higher at 6.88% from its previous close of 6.78% on Friday.