Bond yields traded higher on Monday as Commerce and Industry Minister Piyush Goyal said that the announcement to negotiate a bilateral trade agreement between India and the US has boosted business confidence in both countries, as it can help further strengthen economic ties by leveraging their competitive strengths.
In the global market, U.S. Treasury yields dropped on Friday as investors assessed the state of the economy after a slew of reports this week. Furthermore, oil prices settled down on Friday on prospects for a peace deal between Russia and Ukraine that could ease global supply disruptions by ending sanctions against Moscow, but losses were limited by a delay in U.S. immediate reciprocal tariffs.
Back home, the yields on new 10 year Government Stock were trading 10 basis points higher at 6.80% from its previous close of 6.70% on Friday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.74% from its previous close of 6.62% on Friday.