• On Thursday, the 10-year benchmark government bond (6.48% GS 2035) opened 4 bps higher at 6.68%tracking the overnight rise in 10Y UST yields and Brent crude prices. • Brent climbed back toward $100 per barrel following fresh attacks in the Strait of Hormuz, while the 10Y UST hardened by 5 bps, hovering around 4.22%. • The 10Y IGB yield eased from 6.69% to around 6.66% during the day, likely due to RBI interventions. The INR closed weaker at 92.2/$, with DXY hovering around 99.3 levels. • The domestic CPI data was released, and it came at 3.21% vs the market consensus of 3.1%, with food inflation rising to 3.47% from 2.13% in January. • The latest banking system liquidity stands in surplus of ~INR 2398.96 Bn. The 10Y point closed 3 bps up 6.67% vs 6.64%
