Macro and Government Bond Commentary: Yields down with global benchmarks, strong INR; RBI FY25 surplus transfer at 2.69tn misses expectations • The 10Y benchmark (6.79 GS 2034) mildly slightly lower at 6.26% tracking a fall in treasury yields overnight and quickly fell in the morning session. Yields were ranged for much of the day, with markets closely awaiting RBI dividend transfer amount for FY25. The 10Y point closed trade at 6.25% vs 6.27% prev.
