• The 10Y benchmark (6.33 GS 2035) opened 3bp higher at 6.95% tracking the rise in Brent and US Treasury yields. • Over the day, yields stayed afloat as traders placed short bets in the secondary market to make room for fresh supply ahead of tomorrow’s weekly gilts auction. • The weakness in INR also weighed on bonds. Indian rupee settled at 94.1050/$ vs previous close of 93.79/$ amid stand-off between Iran and the US in the West Asia war. • The 10Y point closed 3bps higher at 6.95% vs 6.92%. • The latest system liquidity stands in surplus of ~INR 3300.24 Bn.
