• On Wednesday, the 10-year benchmark government bond (6.48% GS 2035) opened 1 bp lower at 6.62%. • Over the day, 10Y point elevated to 6.66% level on profit-booking as Bloomberg deferred the inclusion of India's fully accessible route bonds in its flagship Global Aggregate Index. • The 10Y point ended 2bp higher at 6.65% vs 6.63%. • Meanwhile, Indian rupee ended at 90.30/$ vs 90.19/$. • The latest banking system liquidity stayed in surplus of ~$11.13 Bn (~INR 1005.42 Bn). RBI conducted 2-day VRR for ~$5.53 Bn (INR 500 Bn) and was partially subscribed at 5.26%.
