• On Wednesday, the benchmark 10Y bond (6.94% GS 2036) opened 2 bps higher at 7.41%, tracking brent crude price above $110/bbl. • Brent crude rose above $110/bbl amid persistent Middle East supply concerns, with tanker attacks and threats to Saudi oil facilities fueling disruption fears, while lower U.S. inventories lent additional support. • 10Y IGB traded near 7.43% ahead of the weekly T Bill auction. RBI didn’t accept any bids at the T-Bill auction likely on higher bids. • 10Y point closed the day 5 bps higher at 7.44% vs 7.39%. • Banking system liquidity remained in surplus at ~INR 0.48 Tn. INR closed at 94.46/$ with DXY hovering around 101.6 levels.
