The Reserve Bank of India (RBI) is letting the 10-year bond yield align with market realities, ahead of its monetary policy next week. This is a different strategy than what played out until last month, where the central bank seemed more focused on keeping the 10-year bond yields at 6 per cent. The logic given by senior executives at that time was that the 10-year bond has more impact on the entire yield curve and so the focus could be disproportionately higher on the side of the 10-year bond. However, bond dealers say that line of action may have ended with the last benchmark 10-year bond, most of which ended up landing in the books of the RBI due to intervention. The 10-year bond yields closed at 6.204 per cent on Friday. The new 10-year was launched on July 9 at 6.10 per cent, which itself was a high coupon offered to the market. At the start of the month, the yield on the older benchmark was at 6.039 per cent. As bond prices fall, yields rise, and vice versa.