Bond yields ended higher on Monday after foreign portfolio investors (FPIs) in June turned net buyers by pumping in a net Rs 12,714 crore into Indian markets.
In the global market, the yield of the benchmark 10-year Treasury jumped above 1.50% Friday to close out a week in which yields notched their largest weekly gains since March. Furthermore, oil prices climbed to highs last seen in October 2018 as the United States and Iran wrangled over the revival of a nuclear deal, delaying a surge in Iranian oil exports, while investors eyed the outcome of the OPEC+ meeting this week.
Back home, the yields on new 10-year Government Stock ended 4 basis points higher at 6.06% from its previous close of 6.02% on Friday.
The benchmark five-year interest rates ended 4 basis points higher at 5.73% from its previous close of 5.69% on Friday.