Macro and Government Bond Commentary: Yields closed higher • The 10Y benchmark (6.33 GS 2035) opened 2 bps higher at 6.55% as market participants awaited the IGB auction cut-offs and domestic GDP print. • RBI offered 6.68% GS 2040 at 6.9646% for INR 160 Bn and 6.90% GS 2065 at 7.3786% for INR 160 Bn. • The INR depreciated to the record lows, closing at 88.20, amid the imposition of steep tariffs by the US
