Macro and Government Bond Commentary: Yields closed lower • The 10Y benchmark (6.33 GS 2035) opened steady at 6.60%. • T-Bill auction worth INR 210 Bn was fully subscribed and cut offs were, 3M - 5.51%, 6M - 5.60% and 1Y - 5.64%. • The 10Y point closed 7 bps down at 6.53% Vs 6.60% as traders covered short bets on the expectations of RBI intervention to support the market.
