Bond yields trade higher on Monday

16 Sep 2024 Evaluate

Bond yields traded higher on Monday as the Reserve Bank of India said India's forex reserves jumped $5.248 billion to a new all-time high of $689.235 billion for the week ended September 6.

In the global market, U.S. Treasury yields slipped on Friday as investors set their sights on the Federal Reserve’s upcoming policy meeting. Furthermore, Oil prices rose 1 Percent on Friday, extending their rally and putting crude on  course for a weekly gain on the back of output disruption in the U.S. Gulf of Mexico after Hurricane Francine forced the evacuation of production platforms. 

Back home, the yields on new 10 year Government Stock were trading 9 basis points higher at 6.88% from its previous close of 6.79% on Friday.

The benchmark five-year interest rates were trading 10 basis points higher at 6.80% from its previous close of 6.70% on Friday.

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