Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Gilts continue in mute mode – low volumes, limited movement
Bond markets mirrored yesterday’s lackluster mood as yields were once again largely
unchanged and volumes failed to pick up any momentum. It is widely expected that this
mode will continue given the year end buying support to manage bond book valuations
before turning bearish as we enter the next fiscal.
The 10-Y benchmark saw a brief recovery and headed below 8.40% briefly, however it
could not sustain there and retraced from the low of 8.38% to close the day at 8.41% as
compared to yesterday’s 8.42%.
Today also saw 5 state auctions totaling INR 12.2bn with cut-offs in the range of 9.02-
9.04% - the uptick in cut-offs being in line with the recent move in G-Secs.
The swap market too was subdued in the absence of significant cues on the domestic and
global fronts. The 1Y OIS ended at 8.19-8.25% vs 8.20-8.26% and the 5-Y swap was
unchanged at 7.59-7.65%.
Non-SLR Market
Allahabad Bank placed 3M CD worth INR 11bn @ 11.50%. SBT placed 6M CD worth INR 1bn
@ 11%. PNB placed 1Y CD worth INR 2bn @ 10.70%.
Money Market
The call market was also relatively steady as the WAR remained at yesterday's level of
8.95%. Borrowing at the LAF window was at INR 1.5tn and is not yet showing any visible sign
of easing.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Gilts continue in mute mode – low volumes, limited movement
Bond markets mirrored yesterday’s lackluster mood as yields were once again largely
unchanged and volumes failed to pick up any momentum. It is widely expected that this
mode will continue given the year end buying support to manage bond book valuations
before turning bearish as we enter the next fiscal.
The 10-Y benchmark saw a brief recovery and headed below 8.40% briefly, however it
could not sustain there and retraced from the low of 8.38% to close the day at 8.41% as
compared to yesterday’s 8.42%.
Today also saw 5 state auctions totaling INR 12.2bn with cut-offs in the range of 9.02-
9.04% - the uptick in cut-offs being in line with the recent move in G-Secs.
The swap market too was subdued in the absence of significant cues on the domestic and
global fronts. The 1Y OIS ended at 8.19-8.25% vs 8.20-8.26% and the 5-Y swap was
unchanged at 7.59-7.65%.
Non-SLR Market
Allahabad Bank placed 3M CD worth INR 11bn @ 11.50%. SBT placed 6M CD worth INR 1bn
@ 11%. PNB placed 1Y CD worth INR 2bn @ 10.70%.
Money Market
The call market was also relatively steady as the WAR remained at yesterday's level of
8.95%. Borrowing at the LAF window was at INR 1.5tn and is not yet showing any visible sign
of easing.
No comments:
Post a Comment