Yields end the day flat • On Thursday, the 10-year benchmark government bond (6.33% GS 2035) opened at 6.52%. • Over the day, 10Y bond yields dropped on speculations of RBI intervening in the secondary market through OMO purchases. • However, few participants booked profits ahead of tomorrow’s weekly bond auction of the new 10Y 6.48% GS 2035 for INR 320 Bn. • The 10Y point ended flat at 6.52%. • The latest banking system liquidity stands in surplus of ~INR 2115.64 Bn.
