Indian Debt Market Summary
- The interbank call money rate ended at 6.30% on 14th September, steady compared to 12th September.
- Gilt prices erased intraday gains and ended flat as market players trimmed positions ahead of the weekend.
- Intraday, prices rose tracking the rupee’s gains against the greenback and an overnight decline in crude oil prices.
- The yield of the 10 year benchmark 7.17% 2028 paper ended at 8.13% on 14th September, steady compared to 12th September.
Debt Market Watch Updates
| Debt Watch | 14 Sept | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 6.30% | 6.35% | 6.25% | 5.78% |
| Repo | 6.50% | 6.50% | 6.50% | 6.00% |
| 10 Yr Gilt | 8.13% | 7.03% | 7.82% | 6.59% |
| 1-mth CP rate | 7.55% | 7.55% | 7.10% | 6.51% |
| 3-mth CP rate | 8.00% | 7.75% | 7.74% | 6.70% |
| 6-mth CP rate | 8.50% | 8.30% | 8.15% | 6.85% |
| 1 yr CP rate | 8.95% | 8.55% | 8.55% | 7.10% |
| 1-mth CD rate | 7.10% | 6.98% | 6.50% | 6.12% |
| 3-mth CD rate | 7.41% | 7.16% | 7.10% | 6.13% |
| 6-mth CD rate | 7.85% | 7.53% | 7.42% | 6.30% |
| 1 yr CD rate | 8.33% | 8.10% | 7.95% | 6.48% |
| Key announcements in the month | Release Date |
|---|---|
| Bank of Japan Rate Decision | September 19 |
| US Existing Home Sales,August | September 20 |
| UK Retail Sales, August | September 20 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| September 7 | G-sec auction | 12,000 (Allotted) |
| September 13 | Total repo | 75,966 (outstanding) |
| September 13 | Total reverse repo | 76,236 (outstanding) |
| September 13 | Marginal Standing Facility | 1,044 |
| September 12 | GOI Surplus Cash Balance with RBI | 0 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 7.26 | 8.02 | 8.19 | 8.44 | 8.58 | 8.84 |
| 1 Year | 7.82 | 8.53 | 8.70 | 9.05 | 9.20 | 9.44 |
| 3 Year | 8.11 | 8.81 | 9.04 | 9.43 | 9.68 | 9.97 |
| 5 Year | 8.19 | 8.90 | 9.13 | 9.45 | 9.78 | 10.17 |
| 10 Year | 8.13 | 8.88 | 9.24 | 9.63 | 10.09 | 10.43 |
G-sec and corporate bonds data as of Sept 12
6 month G-sec: 182 day T-Bill rate; 1 year G-Sec: 6.35% CGL 2020; 3 year G-Sec: 7.80% CGL 2021; 5 year G-Sec: 7.37% CGL 2023; 10 year G-Sec: 7.17% GS 2028
Last Updated: 15th September 2018
Next Update: 30th September 2018
Update Frequency: Once Every Fortnight
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