Yields end the day higher • On Thursday, the 10-year benchmark government bond (6.33% GS 2035) opened flat at 6.49%. • Over the day, the 10Y bond yield hardened to 6.51% as market-participants booked profits ahead of tomorrow’s Q2FY26 GDP data as it is the final major data point before the RBI MPC meeting on Dec 3-5 and is expected to come around 7.2%. • Indian rupee stayed weak and ended at 89.30/$ on importers dollar demand. • The market participants now await GDP numbers due tomorrow and alongside the cut offs of tomorrow’s IGB weekly auction, • The 10Y point closed 2 bps higher at 6.51% vs 6.49%.The latest banking system liquidity stands in surplus of ~INR 1145.82 Bn.
