Macro and Government Bond Commentary: Yields close steady in absence of fresh cues, liquidity deficit widens mildly • The 10Y benchmark (6.79 GS 2034) opened mildly higher at 6.69% tracking a rise in treasury yields overnight (following cautious Fed chair Powell’s commentary). Yields traded with an upward bias through the day along with weakness in INR. The 10Y point closed trade at 6.70% vs 6.68% prev. • As on 7th Mar, system liquidity deficit was at INR 824bn (this is without adjustments to daily CRR imbalances).
