Yields end the day better • On Friday, the 10-year benchmark government bond (6.33% GS 2035) opened 2 bps lower 6.49% ahead of the weekly IGB auction. • RBI offered 6.01% GS 2030 at 6.1252% for ~$2.04 Bn (INR 180 Bn) and 7.09% GS 2074 at 7.1782% for ~$1.36 Bn (INR 120 Bn) at auction. The 50-year benchmark saw subdued demand. • Meanwhile, profit-booking continued post IGB auction and the 10Y point closed 1bp higher at 6.51% vs 6.50%. • The latest banking system liquidity stands in surplus of ~$16.38 Bn (~INR 1441 Bn).
