Macro and Government Bond Commentary: Yields closed higher • On Thursday, the 10Y benchmark (6.33 GS 2035) opened higher at 6.49% vs 6.47% tracking a rise in UST yields despite the US FOMC cut federal fund rates by 25 bps to 4.00-4.25% to support the labour market. • Fed decision was widely on expected lines, and out of the 12 voting members only1 member dissented.
