Macro and Government Bond Commentary: Yields continue higher with limited scope for further easing, weak SDL results • The 10Y benchmark (6.79 GS 2034) opened mildly lower at 6.34% absent fresh cues and quickly fell in the morning session. Further demand was limited, and yields started rising again through the day, with discomfort around holding duration segment continuing (given limited prospects of further easing going ahead). The 10Y point closed trade at 6.36%. Moves higher in yields were also on account of worse than expected SDL auction results.
