The Indian government bond yields surged on Friday as the Reserve Bank of India (RBI) did not announce any liquidity measures during the monetary policy meeting. Though the Governor, Sanjay Malhotra, gave assurance that the central bank will provide ample liquidity, but the market reacted negatively. The yield on 10-year benchmark bond ended at 6.74%, up 9 basis points (bps) from the previous close. The market has seen some relief over the past few days, as the rupee’s pressure eased following the tariff cut announcement. As a result, the yields have fallen 12 bps in the last four days.