• On Friday, the 10-year benchmark government bond (6.94% GS 2036) opened 1 bps higher at 6.78%, tracking overnight decline in 10Y UST and brent crude oil prices. • Brent crude climbed to $83/bbl amid reports that Iran's parliament is reviewing a bill to ban U.S. and Israeli ships from transiting the Strait of Hormuz. • Market participants-maintained auction ahead of weekly IGB auction. Auction cut-offs were mixed, with the 6.36% GS 2031 cut-off coming in weaker at 6.3647%, while the 7.71% GS 2066 saw a better cut-off at 7.5618%. • The 10Y point closed the day flat at 6.77%. • latest banking system liquidity stayed in surplus of ~INR 3.6 Tn.
