Macro and Government Bond Commentary: Yields mildly lower with crude oil price, better than expected SDL auction result • The 10Y benchmark (6.79 GS 2034) opened slightly lower at 6.32% tracking a fall in crude oil prices overnight but witnessed some profit booking in the morning session. Yields were ranged early in the afternoon, but fell around later trade, with SDL auction results coming better than expected. The 10Y point closed trade at 6.32% vs 6.33% prev. • As on 16th Jun, liquidity surplus was at INR 2.7trillion after accounting for quarterly advance tax payments.
