• On Thursday, the 10-year benchmark government bond (6.48% GS 2035) opened 3 bps higher at 6.95% tracking an overnight rise in Brent crude oil prices above the $100 per barrel mark. • However, over the day yields eased and touched 6.91% amid an intraday decline in crude oil prices and appreciation in the rupee, following reports that the US and Iran were moving closer to a peace deal. • The 10Y IGB (6.48% GS 2035) closed 1bp up at 6.93% vs 6.92%. • The INR appreciated and closed at 94.25/$ with DXY hovering around 97.8 levels. • The latest banking system liquidity stands in surplus of ~INR 2.65 Tn
