Macro and Government Bond Commentary: Yields rise with weakness in INR, liquidity surplus widens • The 10Y benchmark (6.79 GS 2034) opened little changed at 6.32% despite moves lower in treasury yields overnight. Mid-morning trade saw yields rise with weakness in INR given ongoing geo-political tensions amid anecdotes of FIIs selling from local bonds as well as equities (Spot INR went up to 85.60 in the day but came off in the afternoon to trade at 85.45 at 3:30 pm IST). Yields consolidated in early afternoon trade and were ranged through the day. The 10Y point closed at 6.36% vs 6.32% prev
