Macro and Government Bond Commentary: Yields reverse early upside, INR depreciation continues • 10Y benchmark (7.10 GS 2034) opened slightly lower tracking a fall in treasury yields overnight. Yields edged higher with the INR depreciating further. This upside in yields did not sustain, with the 10Y point closing trade at 6.80% vs 6.81% prev. • As on 7th Jan, system liquidity deficit widened to INR 1.81tn (without adjusting for daily CRR imbalances)
