Macro and Government Bond Commentary: Yields closed lower • On Friday, the 10-year benchmark government bond (6.33% GS 2035) opened 1bp lower at 6.52%. • Over the day, the RBI MPC cut repo rate by 25bps to 5.25% maintaining the ‘neutral’ stance, lead to a drop in 10Y bond yield to 6.45%. The announcement of INR 1 trln open market purchase of gilts through auction in December also supported the fall in yields.
