• On Wednesday, the 10-year benchmark government bond (6.48% GS 2035) opened lower at 6.84% tracking an overnight fall in the price of Brent crude oil. • Over the day, the 10Y point continued tracking the movement in Brent crude oil prices while traders stayed cautious ahead of US FOMC decision. • The RBI offered 91-day T-bill at a cut-off rate of 5.2603%, 182-day T-bill at a 5.5005% and 364-day T-bill at 5.7887%. • Indian rupee ended higher against the dollar as Brent crude oil was below $80/barrel. INR ended at 94.53/$ vs 94.56/$. • The 10Y point closed 1bps lower at 6.86% vs 6.87%. The latest banking system liquidity stands in surplus of ~INR 238.81 Bn.
