• On Friday, the 10-year benchmark government bond (6.48% GS 2035) opened 1bp lower at 6.64% ahead of RBI monetary policy outcome. • The 10Y point rose to 6.75% after the Reserve Bank of India's failed to provide commentary on liquidity after keeping rate unchanged. The central bank led monetary policy committee unanimously kept policy repo rate unchanged at 5.25% and agreed to retain the ‘neutral’ stance. • Also, the weekly bond auction cutoff yields came higher than expected. RBI offered 6.68% GS 2040 at 7.1658% and 6.90% GS 2065 at 7.4917%. • INR ended lower at 90.66/$ vs 90.34/$ on dollar buying by importers. • The 10Y point closed 9 bps higher at 6.74% vs 6.65%.
