Macro and Government Bond Commentary: Yields lower with global benchmarks; India Q2 GDP watched • 10Y benchmark (7.10 GS 2034) opened mildly lower at 6.83%, with US PCE inflation coming along expected lines. Yields were ranged through the day in absence of major cues (with US markets shut for Thanksgiving holiday). The 10Y point closed trade at 6.83% vs 6.86% prev. • As on 27th Nov, system liquidity deficit narrowed to INR 308bn (without adjustments to daily CRR imbalances). Liquidity conditions should ease this week with month-end GOI spending coming in.
