MUMBAI – Indian government bond yields are likely to open marginally higher on Monday as oil prices continue to rally as the broader market awaits a domestic monetary policy decision due later in the week.

The benchmark 10-year yield is likely to range between 7.20% and 7.25%, a trader at a private bank said.

The yield ended Friday at 7.2215%, down eight basis points over the past week.

As seen in Friday’s moves, traders showed their unease below 7.20% for the benchmark,…