Indian Debt Market Summary
- The inter-bank call money rate ended at 6.25% on 14th August, level compared to a 13th August
- Gilt prices ended steady on 14th August after taking cues from the rupee’s movement intraday.
- Investors also remained cautious ahead of the release of the central bank Monetary Policy Committee’s latest meeting minutes.
- The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.82% on 14th August, flat compared to 13th August.
Debt Market Watch Updates
| Debt Watch | 14 Aug | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 6.25% | 6.45% | 6.10% | 5.85% |
| Repo | 6.50% | 6.50% | 6.25% | 6.00% |
| 10 Yr Gilt | 7.82% | 7.79% | 7.79% | 6.52% |
| 1-mth CP rate | 7.10% | 7.40% | 7.10% | 6.41% |
| 3-mth CP rate | 7.74% | 7.65% | 7.80% | 6.47% |
| 6-mth CP rate | 8.15% | 8.20% | 8.33% | 6.76% |
| 1 yr CP rate | 8.55% | 8.50% | 8.57% | 7.05% |
| 1-mth CD rate | 6.50% | 6.60% | 6.30% | 6.10% |
| 3-mth CD rate | 7.10% | 7.13% | 7.00% | 6.16% |
| 6-mth CD rate | 7.42% | 7.45% | 7.42% | 6.36% |
| 1 yr CD rate | 7.95% | 7.98% | 7.95% | 6.45% |
| Key announcements in the month | Release Date |
|---|---|
| US Housing starts,July | August 16 |
| US Leading Indicators,July | August 17 |
| Eurozone Customers Prices,July | August 17 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| August 16 | G-sec auction | 12,000 (Allotted) |
| August 13 | Total repo | 49,964 (outstanding) |
| August 13 | Total reverse repo | 59,261 (outstanding) |
| August 13 | Marginal Standing Facility | 1,460 |
| August 13 | GOI Surplus Cash Balance with RBI | 0 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 6.95 | 7.68 | 7.85 | 8.10 | 8.24 | 8.50 |
| 1 Year | 7.23 | 8.15 | 8.38 | 8.67 | 8.82 | 9.06 |
| 3 Year | 7.61 | 8.41 | 8.73 | 9.03 | 9.28 | 9.57 |
| 5 Year | 7.80 | 8.52 | 8.75 | 9.07 | 9.40 | 9.79 |
| 10 Year | 7.75 | 8.50 | 8.86 | 9.25 | 9.71 | 10.05 |
G-sec and corporate bonds data as of Aug 10
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 August 2018
Next Update: 31st August 2018
Update Frequency: Once Every Fortnight
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