Bond yields traded flat on Monday as investors await fresh cues on interest rates globally as well as in India.
In the global market, U.S. Treasury yields edged lower on Friday after data showing low inflation in March suggested that the Federal Reserve could aim for a slower pace of interest rate hikes this year than it had forecasted on Wednesday. Furthermore, oil prices fell as rising U.S. drilling activity and steady supplies from OPEC countries despite touted production cuts pressured already-bloated markets.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close at 6.86% on Friday.
The benchmark five-year interest rates were trading 4 basis points lower at 7.02% from its previous close of 7.06% on Friday.