Indian Debt Market Summary
- The interbank call money rate ended slightly higher at 5.60% on 15th July as against 5.55% on 12th July.
- Government bond prices ended higher on 15th July as hopes of an interest rate cut by the central bank strengthened following the release of domestic consumer inflation figures for June.
- Data showed that inflation in June had remained benign, coming in at 3.18% annually, and only marginally higher than 3.05% growth recorded in the previous month.
- Moreover, data also showed that core inflation had eased marginally to around 4.1% in June from the month earlier.
- The yield of the 10 year benchmark 7.26% 2029 paper settled at 6.43% on 15th July as against 6.49% on 12th July.
Debt Market Watch Updates
| Debt Watch | 15 July | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 5.60% | 5.70% | 6.00% | 6.10% |
| Repo | 5.75% | 5.75% | 5.75% | 6.25% |
| 10 Yr Gilt | 6.43% | 6.56% | 6.92% | 7.79% |
| 1-mth CP rate | 6.30% | 6.55% | 6.55% | 7.10% |
| 3-mth CP rate | 6.60% | 7.25% | 6.95% | 7.80% |
| 6-mth CP rate | 7.40% | 7.75% | 7.75% | 8.33% |
| 1 yr CP rate | 7.80% | 8.00% | 8.10% | 8.57% |
| 1-mth CD rate | 5.90% | 6.00% | 6.00% | 7.10% |
| 3-mth CD rate | 6.20% | 6.40% | 6.39% | 7.00% |
| 6-mth CD rate | 6.60% | 6.75% | 6.88% | 8.33% |
| 1 yr CD rate | 7.18% | 7.20% | 7.25% | 7.98% |
| Key announcements in the month | Release Date |
|---|---|
| US Retail Sales, June | July 16 |
| US Housing Starts, June | July 17 |
| UK Retail Sales, June | July 18 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| July 19 | G-sec auction | 17,000 (Allotted) |
| July 12 | Total repo | 31,797 (outstanding) |
| July 12 | Total reverse repo | 1,89,003 (outstanding) |
| July 12 | Marginal Standing Facility | 1,200 |
| July 12 | GOI Surplus Cash Balance with RBI | 0 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 5.98 | 6.80 | 6.97 | 7.22 | 7.36 | 7.62 |
| 1 Year | 6.02 | 7.37 | 7.56 | 7.85 | 8.00 | 8.24 |
| 3 Year | 6.31 | 7.42 | 7.61 | 7.97 | 8.25 | 8.54 |
| 5 Year | 6.41 | 7.48 | 7.75 | 8.11 | 8.40 | 8.79 |
| 10 Year | 6.43 | 7.41 | 7.77 | 8.16 | 8.62 | 8.96 |
G-sec and corporate bonds data as of July 15
6 month G-sec: 182 day T-Bill rate; 1 year G-Sec: 6.65% CGL 2020; 3 year G-Sec: 8.13% CGL 2022; 5 year G-Sec: 7.32% CGL 2024; 10 year G-Sec: 7.26% GS 2029
Last Updated: 15th July 2019
Next Update: 31st july 2019
Update Frequency: Once Every Fortnight
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