Macro and Government Bond Commentary: Yields rise with caution around moderating liquidity • The 10Y benchmark (6.79 GS 2034) opened mildly lower at 6.35% despite a rise in treasury yields overnight (with better risk conditions) and were ranged through early in the afternoon. Following a newsbreak of possibility for more CRR easing (to modulate durable liquidity), yields edged higher. In addition, possibility of a VRRR auction also made market participants slightly cautious. This led the 10Y point to close trade at 6.37% vs 6.36% prev. US treasury yields edged lower following softer than expected US inflation readings
