• The 10-year benchmark bond, 6.94% GS 2036, opened higher at 7.1%, while the US 10-year Treasury yield crossed the significant 5% mark for the first time since 2023, weighing on investor appetite for fixed-income assets globally. • Brent crude oil was trading between $107.10 and $108.28 per barrel following the shutdown of Saudi Arabia's East-West pipeline after a drone attack. The pipeline accounts for around 4% of global oil supply, raising concerns over potential supply disruptions and inflationary pressures. • The rupee weakened further to ?95.92 per dollar, pressured by rising global crude oil prices and elevated US interest rates and Treasury yields. • The cut offs at SDL auctions were higher. Cut off for multiple states were 7.82% for 10Yr, 7.87% for 12Yr, 7.94% for 15yr and 7.95% for 21yr papers. • The latest banking system liquidity stayed in surplus of ~$111.8 Bn (~INR 10727 Bn).
