Bond yields traded higher on Monday as Finance Ministry in its monthly report has said that recent goods and services tax (GST) rate cuts will help lower inflation over the next year and also bring a further upside bias to the country's growth prospects.
In the global market, U.S. Treasury yields were little changed on Friday as investors analyzed the latest inflation data and what it could mean for the U.S. economy. Furthermore, oil prices rose on Friday as Ukraine’s drone attacks on Russia’s energy infrastructure cut the country’s fuel exports.
Back home, the yields on new 10 year Government Stock were trading 05 basis point higher at 6.56% from its previous close of 6.51% on Friday.
The benchmark five-year interest rates were trading 11 basis points higher at 6.33% from its previous close of 6.22% on Friday.
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