Government bonds fell for a second consecutive session as the market braced for a heavy supply of debt later this week amid limited investment appetite • The GoI benchmark 6. 79 % 202 7 bond yield rose to 6. 4 6 % from 6.44 % in the previous session • Yield on the US10 - year declined to 2.2 5 % from 2.26 % in the previous session.

Forex (US$/INR)

The rupee posted its first loss in five sessions against the US$ tracking a sharp rebound in the US$ triggered by a better - than - expected US nonfarm payrolls data • The US$ fell yesterday as Fed officials downplayed concerns on stimulus withdrawal. They also raised concerns on inflation as traders booked profits in the US$ from a recent rise due to higher - than - expected July employment data. The euro continue s to surge while Japanese Yen also gained on rising risks over North Korea.

Strategy In the currency futures market, the most traded dollar - rupee August contract on the NSE ended at 63.97. The August contract open interest declined 6.21 % from the previous day • September contract open interest increased 2.56 % in the previous session • We expect the US$ to meet supply pressure at higher levels. Utilise up sides to go short on the US$INR pair.

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