Bond yields trade lower on Monday
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Bond yields traded lower on Monday, as foreign portfolio investors (FPIs) pulled out Rs 5,156 crore from Indian markets in the first week of March amid profit booking and rising bond yields in the US.
In the global market, U.S. Treasury yields pulled back from earlier highs on Friday as buyers stepped in after the benchmark 10-year note hit its highest level in over a year in the wake of a stronger-than-anticipated monthly payrolls report. Furthermore, Brent crude futures surged above $70 a barrel for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.22% from its previous close of 6.23% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 5.85% from its previous close of 5.84% on Friday.
