Yields end the day better • The 10-year benchmark government bond (6.33% GS 2035) opened 1bp higher at 6.51%. • Over the day, IGB 10y bond yields hardened amid profit-booking ahead of tomorrow’s weekly bond auction for INR 280Bn comprising 15-year (6.68% GS 2040) and 40-year (6.90% GS 2065) papers. • Also, market participants await tomorrow’s RBI weekly statistical data for confirmation that purchases made by ‘others’ last week were done by the central bank itself. • Indian rupee stayed weaker ending at INR 88.67/$ on importers dollar demand with focus on progress related to US-India trade deal. • The 10Y point ended 2bps higher at 6.52% vs 6.50%.
