Macro and Government Bond Commentary: Yields reverse early upside, system liquidity surplus widens • The 10Y benchmark (6.79 GS 2034) opened mildly higher at 6.36% likely escalating cross border tensions along with weakness in INR. However, this upside in yields did not sustain, and quickly fell in the morning session. The day saw yields broadly ranged for the much of the day. The 10Y point closed trade at 6.34% vs 6.35% prev.
