Bond yields traded higher on Monday despite the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) eased to 56.3 in February as against 57.7 in January.
In the global market, U.S. Treasury prices jumped Friday after a spat between President Donald Trump and Ukrainian President Volodymyr Zelenskyy raised concern over growing geopolitical tensions. Furthermore, oil prices fell on Friday and were headed for their first monthly drop since November, as markets watched an Oval Office argument between the U.S. and Ukrainian presidents while also bracing for Washington's new tariffs and Iraq's decision to resume oil exports from the Kurdistan region.
Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 6.84% from its previous close of 6.72% on Friday.
The benchmark five-year interest rates were trading 11 basis points higher at 6.75% from its previous close of 6.64% on Friday.
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