• On Thursday, the 10Y benchmark (6.94 GS 2036) opened 1bp lower at 6.85% on improved market sentiment after media reports said the US and Iran signed a peace agreement ahead of schedule. • During the day, the 10Y yield dropped to 6.82% tracking the drop in crude oil prices. Brent crude oil futures for August delivery fell to $78.22/barrel, down from $79.24/barrel. • The rupee ended at a six-week high against the dollar on likely FII inflows into equity and dollar selling by exporters. INR ended at 94.3325/$ vs 94.53/$. • The 10Y point ended 2bps lower at 6.84% vs 6.86%. • The latest system liquidity stands in surplus of ~INR 47.72 Bn.
