Macro and Government Bond Commentary: Yields continue lower with strength in INR, better liquidity as well as receiving in OIS • The 10Y benchmark (6.79 GS 2034) opened little changed at 6.37% but quickly fell in the morning session aided by strength in local currency as well as a fall in crude oil prices. Yields fell further through the day aided by optimism around better liquidity conditions – as also witnessed in continued receiving interest in the OIS segments. The 10Y point closed trade at 6.32% vs 6.37% previous.
