The yield on India’s 10-year G-Sec steadied around 6.58%, holding its recent losses, as investors turned cautious ahead of the central bank’s debt purchase, while its intervention in the currency market fueled expectations of additional liquidity support. The Reserve Bank of India stepped in forcefully to halt the rupee’s slide after it touched repeated record lows, a move that gave traders confidence that liquidity injections could extend beyond the scheduled bond-buying operation. Investors are positioning ahead of the RBI’s scheduled 500 billion rupee bond purchase on Thursday, expected to focus on the former benchmark 6.33% 2035 bond. A similar operation last week, briefly lifted prices and strengthened bets that the central bank will continue to support liquidity. Still, yields may face upward pressure as markets see the rate-cut cycle may be over, a view reinforced by more than $1 billion in foreign bond outflows so far in December as investors reposition ahead of year-end.