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Below is Perspective note on Bond yield movements by Mr. Vishal Amarnani, Head of Fixed Income, Emkay Wealth Management

“10 Year yields were extremely volatile today and will close around yesterdays closing level as policy is almost in line with the expectations. CRR has been left unchanged and market has drawn some comfort on that. Inflation is 100 bps revised upward from the previous policy, growth is retained at the 7.20% levels, normal monsoon is expected.

So the general expectation of the policy rate hike could be till 5.50 to 6 Level over the couple of quarters. Therefore, we are not even half way.  We expected 10 year to be in the range of 7.45 to 7.70 levels.”

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