Bond yields traded higher on Monday as a CII survey showed that India's current economic environment is conducive for private investments with the country emerging as a 'bright spot' amid the challenging global environment.
In the global market, U.S. Treasury yields rose on Friday after a stronger-than-expected jobs data reinforced expectations that the Federal Reserve will likely keep interest rates elevated for longer than traders were betting on. Furthermore, oil prices settled lower on Friday as the latest U.S. sanctions on Russian energy trade added to worries about oil supply disruptions.
Back home, the yields on new 10 year Government Stock were trading 10 basis points higher at 6.87% from its previous close of 6.77% on Friday.
The benchmark five-year interest rates were trading 9 basis points higher at 6.81% from its previous close of 6.72% on Friday.