The liquidity in the system is expected to tighten further as the advance tax outflows begin to set-in during the month. In consequence, the market has already begun to internalize the liquidity paucity in its pricing. However, depending on the intensity of the outflows, we can expect the shorter end of the yield curve to rise further with the CDP/CP approaching 10% mark. Also, the awaited mid-quarter monetary policy announcement during the month; along with the impending inflation numbers during the same period, too may have a bearing on the market performance.