• On Monday, the 10-year benchmark government bond (6.94% GS 2036) opened steady at 6.71%. • Over the day yields fell to 6.68% levels amid hopes of Indian bond’s inclusion in Bloomberg's Global Aggregate Index. • The latest banking system liquidity stayed in surplus of ~INR 1.8 Tn. RBI conducted 3 day VRR for INR 750 Bn, but only INR 146 Bn was subscribed at 5.26%. • The INR closed at 95.39/$, with DXY hovering around 101 levels. • 10Y point closed 2 bps lower at 6.69% vs 6.71%.
