Bond yields traded higher on Monday driven by a weaker rupee and elevated Brent crude prices amid continued uncertainty over the end to the U.S.-Iran war in the Middle East.
In the global market, U.S. Treasury yields rose Friday as new indications of economic resilience fuel forecasts for a prolonged cycle of interest rate increases. Furthermore, Oil prices climbed on Monday after Iran said it would not soften its conditions for reopening the Strait of Hormuz, after U.S. President Donald Trump rejected Tehran’s proposal, raising uncertainty over when traffic through the crucial oil shipping route will return to normal.
Back home, the yields on new 10-year Government Stock were trading 5 basis points higher at 7.17% from its previous close of 7.12% on Friday.
The benchmark five-year interest rates were trading 5 basis points higher at 6.87% from its previous close of 6.82% on Friday.
