Macro and Government Bond Commentary: Yields closed lower • On Tuesday, the 10Y benchmark (6.33 GS 2035) opened steady at 6.49% ahead of debt supply from states, while the market participants remained cautious ahead of the interest rate decision of the US FOMC. • The Fed's decision is due after market hours tomorrow, where a 25bps rate cut is expected by the market participants, with a thin possibility of a 50-bps reduction. So, focus will be on Fed's further guidance regarding future rate trajectory.
