Macro and Government Bond Commentary: Yields closed higher today • The 10Y benchmark (6.33 GS 2035) opened steady at 6.44% as market participants cautiously awaited domestic and U.S. inflation data for further cues. • India’s net direct tax collection falls 3.95% YoY this fiscal till August 11, prompting speculations of higher government bond supply ahead. The 10Y point closed 5 bps up at 6.49% Vs 6.44%.
