Macro and Government Bond Commentary: Yields reverse early downside despite strong INR, treasury yields spurt • The 10Y benchmark (6.79 GS 2034) opened mildly higher at 6.45% (despite a pickup in treasury yields). Yields edged lower in the morning session with optimism following doveish MPC meeting outcome continuing along with strength in the INR. However, this moves lower in yields did not sustain, with profit booking seen in the afternoon. The 10Y point closed trade at 6.44% vs 6.45%.
