Macro and Government Bond Commentary: Yields rise with global benchmarks, better than expected GDP growth; liquidity deficit narrows ahead of month-end GOI spending • The 10Y benchmark (6.79 GS 2034) opened mildly lower at 6.70% despite a rise in treasury yields overnight (following stronger than expected US durable goods orders) but started edging higher in the morning session. Moves until early afternoon was ranged, with some demand seen ahead of the GDP data release. However, this demand did not sustain, with yields rising quickly as India Q3 GDP came in better than expected (after factoring an upward revision in the Q2 reading
