• On Wednesday, the 10-year benchmark government bond (6.48% GS 2035) opened 3 bps lower at 6.99% amid overnight decline in Brent crude on expectations of a U.S.-Iran peace deal. • IGB yields eased further as Brent crude for July delivery fell below $100 per barrel for the first time in two weeks. The decline followed reports that the United States and Iran were close to a deal aimed at de-escalating tensions in West Asia. • The 10Y IGB (6.48% GS 2035) closed 10 bps lower at 6.92% vs 7.02%. • The INR appreciated and closed at 94.615 with DXY hovering around 97.9 levels. • The latest banking system liquidity stands in surplus of ~INR 2.8Tn.
