Bond yields trade lower on Monday

Bond yields edged lower on Monday amid hopes of monetary easing by the nation's central bank.

In the global market, U.S. Treasury prices rose on Friday with benchmark yields hitting two-week lows as a result of safe-haven demand for bonds due to losses in Wall Street stocks. Furthermore, Crude prices rebounded after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting of OPEC producers.

Back home, the yields on new 10 year Government Stock were trading 4 basis points lower at 6.93% from its previous close of 6.97% on Friday.

The benchmark five-year interest rates were trading 6 basis points lower at 6.83% from its previous close of 6.89% on Friday.