As per our understanding , we’re near the end of the move in GOI 10yrs yield.
Current spike is because of RBI announcement of selling more bonds. This is related liquidity with the banks.
We foresee it to fall below 6% in coming 1-2 years ( reason is India inclusion in global bond-baskets). In short term , 7.48 is a watchout level. If it crosees above this level ,then it can spike up further for short-term. But long term trajectory should be on dowanward trend.
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