Union Budget and RBI's circular for better liquidity management positive for the bond market as yields fall to lowest points since April 2022.

The 10-year 2034 G-Sec yields fell to 6.94%, down 3 bps, as the central bank unveiled new liquidity measures. The Union Budget 2024-25, with a fiscal deficit target of 4.9% and reduced borrowing plans, has bolstered bond market confidence. New capital gains taxes are set to attract investors, while the INR Bonds High Yield Index remains steady at 9.77%. Meanwhile, the U.S. 10-year Treasury yield dropped to 4.19%, reflecting a shift in market dynamics.

Sambit Roy

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