Bond yields traded marginally higher on Monday amid easing crude oil prices after U.S. President Donald Trump held off on a fresh attack on Iran and said an agreement was close, signaling renewed diplomatic momentum and helping ease concerns about inflation.
In the global market, U.S. Treasury yields surged Friday, following oil prices higher amid signs that the U.S. Federal Reserve could hike rates in the autumn as threats to global oil supplies escalate. Furthermore, oil prices slumped on Monday, as U.S. President Donald Trump said negotiations with Iran would resume later in the day after he called off a planned attack on the country.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.84% from its previous close of 6.83% on Friday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.42% from its previous close of 6.44% on Friday.
