Macro and Government Bond Commentary: Yields rise with weakness in INR, liquidity surplus narrows • The 10Y benchmark (6.79 GS 2034) opened little changed at 6.46% (despite a sharp fall in treasury yields overnight, with US futures markets anticipating more than 100 bps easing this year). Yields edged higher in the morning session tracking weakness in INR (given outflows from domestic equities) but were ranged for the rest of the day. The OIS markets witnessed continued receiving interest, with a segment of markets now positioning for the MPC meeting outcome this Wednesday. The 10Y point closed trade at 6.48% vs 6.46% prev
