• 10-year benchmark government bond (6.48% GS 2035) opened 3bp lower at 6.84% as Brent crude oil futures for May delivery fell below $100/barrel amid expectations of de-escalation in the US-Iran war. • Over the day, the 10Y point elevated to 6.89% levels on profit-booking by traders amid uncertainty over the war in West Asia. Traders also await the release of the government's borrowing calendar for the first half of the financial year 2026-27 (Apr-Mar). • Indian rupee settled lower at 93.98/$ on the behalf of importers and FII outflows amid ongoing war in West Asia compared to 93.87/$. • The 10Y point closed 1bp higher at 6.88% vs 6.87%. • The latest banking system liquidity stayed in surplus of ~INR 616.29 Bn.
