In light of the recent surge in the 10-year United States Treasuries (UST) yields as well as the geopolitical tensions, markets are expected to remain volatile, despite a resilient economy, tighter job markets and slowing down of inflation levels in the Indian Economy. Benchmark yields are expected to trade with a positive bias in view of movement in 10Y USTs. While RBI is expected to provide temporary liquidity support, Liquidity may still come under pressure due to GST outflows and foreign exchange intervention. Foreign Portfolio Investments (FPI) flows in the Indian debt market has turned negative, turning them into net sellers for the month of April, due to the response to the swings in the yields of USTs.