Macro and Government Bond Commentary: Yields lower following RBI’s liquidity infusion announcements, liquidity deficit widens • The 10Y benchmark (6.79 GS 2034) opened lower at 6.79% after the RBI announced measures to inject durable liquidity (via INR 1tn OMOs as well as USD 10bn buy/sell swap – to be held in March). After opening lower, yields were ranged through the day but saw some demand in the afternoon session. The 10Y point closed trade at 6.68% vs 6.71% prev.
