Macro and Government Bond Commentary: Yields closed higher today • The 10Y benchmark (6.33 GS 2035) opened 3 bps up at 6.43%, tracking hardening in US treasury yields and the Govt’s announcement of GST reforms. • Yields moved further up during the session amid the persistent concerns over the central government's fiscal management and possibility of higher borrowings, following the proposal to reduce the number of slabs under GST, announced on Friday. The 10Y point closed 10 bps higher at 6.50% Vs 6.40%.
