Bond yields traded higher on Monday after Commerce and Industry Minister Piyush Goyal has said that India is negotiating trade agreements with several countries, including the US, and stressed that many nations are keen to engage with New Delhi on the trade front. He also exuded confidence that India's exports in 2025-26 will exceed last year's figures.
In the global market, U.S. Treasury yields moved higher Friday as investors weighed the effect of higher tariffs on the outlook for U.S. economic growth and inflation. Furthermore, oil largely held steady on Friday as markets awaited a meeting in coming days between Russian president Vladimir Putin and his U.S. counterpart Donald Trump, but prices marked their steepest weekly losses since late June on a tariff-hit economic outlook.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 6.43% from its previous close of 6.39% on Friday.
The benchmark five-year interest rates were trading 8 basis points higher at 6.20% from its previous close of 6.12% on Friday.