Macro and Government Bond Commentary: Yields rally today following RBI OMO • The 10Y benchmark (6.79 GS 2034) opened lower at 6.33% today following yesterday’s OMO announcement. However, it rose to 6.36% at noon given ongoing geo-political tensions. Further, yields rallied after expected SDL cut-off closing the day better at 6.34% vs 6.40% prev. • RBI SDL auction results: RBI offered 10Y SDLs at 6.70%, 15Y SDL at 6.75%, 21Y SDL at 6.78%, 27Y SDL at 6.79% and 30Y SDL at 6.79%
