Bond yields traded higher on Monday despite India’s manufacturing activity slowed down slightly in the month of May 2025 with HSBC India Manufacturing Purchasing Managers' Index (PMI) falling to three-month low of 57.6 from 58.2 in April 2025 amid softer growth of new orders and production.
In the global market, The U.S. 10-year Treasury yield ticked down on Friday as investors parsed inflation data and considered the latest news on President Donald Trump’s ‘reciprocal’ tariffs. U.S. crude futures fell on Friday as traders expected OPEC+ would decide on Saturday to boost oil output for July beyond previous forecasts.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.23% from its previous close of 6.21% on Friday.
The benchmark five-year interest rates were trading flat with its previous close of 5.86% on Friday.
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