• The 10-year benchmark government bond (6.48% GS 2035) opened steady at 6.71% ahead of FOMC policy outcome • Over the day, the 10Y point elevated to 6.74% levels as traders built short positions tracking the movement Indian rupee • INR breached record low of 92.65/$ on dollar buying by importers and absence of RBI intervention. Indian rupee ended at record low of 92.63/$ vs 92.37/$. • The 10Y point closed 2bp higher at 6.73% vs 6.71%. • The latest banking system liquidity stayed in surplus of ~INR 819.64 Bn.
