Macro and Government Bond Commentary: Yields down with global benchmarks, India headline CPI continues lower, though core CPI remains sticky • The 10Y benchmark (6.79 GS 2034) opened lower at 6.35% tracking a fall in treasury yields overnight (on global risk off sentiment along with softer than expected core CPI inflation). Yields quickly rose in the morning session, though this upside in yields did not sustain, and started edging lower through the afternoon. Following a rise in core CPI inflation, yields rose again, though softer than expected headline inflation provided some respite to market participants. The 10Y point closed trade at 6.34% vs 6.37% prev.
