Bond yields traded lower on Monday as traders kept an eye on the ongoing discussions between Qatari mediators and Iranian officials to end hostilities in the Middle East which could ease supply concerns.
In the global market, U.S. Treasury yields declined on Friday as investors moved into safe havens amid a sell-off in equities, led by technology. Furthermore, Oil prices fell sharply on Monday amid reports that both the U.S. and Iran are seeking diplomatic options to bring an end to the Middle East conflict.
Back home, the yields on new 10-year Government Stock were trading 6 basis points lower at 7.35% from its previous close of 7.41% on Friday.
The benchmark five-year interest rates were trading 7 basis points lower at 7.27% from its previous close of 7.34% on Friday.