Macro and Government Bond Commentary: Yields rise with global benchmarks, liquidity deficit widens • 10Y benchmark (7.10 GS 2034) opened little changed at 6.79% despite a rise in treasury yields overnight (following stronger than expected ISM services PMI and US JOLTS job openings). Yields continued higher on the day, with the 10Y point closing trade at 6.81%. • T-bill auction results: RBI offers 91-days T-bills at 6.59% for INR 120bn, 182-days T-bills at 6.70% for INR 80bn, and 364-days T-bills at 6.69% for INR 80bn. • As on 7th Jan, system liquidity deficit widened to INR 1.44tn (without adjusting for daily CRR imbalances)
