Bond yields traded flat on Monday after India’s flash PMI indicated strong growth in the month of June, as new export orders continued to fuel private sector business activity, especially in manufacturing. Besides, the combination of robust global demand and rising backlogs prompted manufacturers to increase hiring.
In the global market, Longer-dated U.S. Treasury yields fell on Friday after Federal Reserve Governor Christopher Waller said in an interview on CNBC that inflation was softening to the point where the central bank could cut interest rates at its next meeting in July.
Back home, the yields on new 10 year Government Stock were traded flat with its previous close of 6.31% on Friday.
The benchmark five-year interest rates were trading 02 basis points higher at 6.02% from its previous close of 6.00% on Friday.