Macro and Government Bond Commentary: Yields closed higher today • The 10Y benchmark (6.79 GS 2034) opened 2 bps up today at 6.38%. The 10Y point closed trade higher at 6.40% following selling pressure from institutions. • RBI set the cut-off of 7-day VRRR auction at 5.49%. The demand was robust as it was fully subscribed at the notified amount of INR 1.25 trillion. • RBI weekly auction results: RBI offered 5.98 GS 2028 at 5.81% for 60bn and 6.33 GS 2035 at 6.34 for INR 300bn.
