Bond yields dip marginally as traders unwind short positions

Government securities advanced modestly on October 24 as traders squared off short positions ahead of next week’s borrowing schedule. The benchmark 10-year yield eased to 7.09%, reflecting mild demand from mutual funds and banks. Dealers said market participation stayed light due to fiscal-year-end caution, though sentiment improved following expectations of restrained debt issuance. Equities also steadied after trimming early losses amid mixed global cues, with investors awaiting Reserve Bank commentary on liquidity operations and short-term rates.