The G-Sec curve saw a steepening with mixed movement seen across tenors. On the US front, initial estimate of US Q3 GDP data came at 4.3% with US 10Y hovering around 4.12 levels. On the domestic front, systemic liquidity slipped continued in the deficit zone with multiple VRRs being carried out through the week to support liquidity conditions. RBI further announced liquidity measures in the week including INR 2 Tn worth of OMOs and a $10 Bn 3yr USD/INR buy-sell swap. IGB yields responded with the 10yr rallying by ~10bps and dip in yields across the curve. INR was closely watched this week with DXY weakening to < 98 levels in the week and further chatter heard about RBI intervention. Focus will now turn to possible US-India trade deal going into the new year
