Indian Debt Market Summary
- The interbank call money rate ended at 6.25% on 15th October as against 6.35% on 12th October.
- Gilt prices rose on 15th October as benign retail inflation figures for September eased concerns of further interest rate hikes by the central bank.
- Narrowing of India’s trade deficit for September also aided sentiment.
- The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.92% on 15th October as against 7.98% on 12th October.
Debt Market Watch Updates
| Debt Watch | 15 Oct | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 6.25% | 6.30% | 6.30% | 5.85% |
| Repo | 6.50% | 6.50% | 6.50% | 6.00% |
| 10 Yr Gilt | 7.92% | 7.97% | 8.13% | 6.73% |
| 1-mth CP rate | 7.75% | 7.75% | 7.55% | 6.50% |
| 3-mth CP rate | 8.40% | 8.30% | 8.00% | 6.75% |
| 6-mth CP rate | 9.05% | 8.75% | 8.50% | 7.00% |
| 1 yr CP rate | 9.20% | 8.85% | 8.95% | 7.15% |
| 1-mth CD rate | 6.75% | 6.75% | 7.10% | 6.05% |
| 3-mth CD rate | 7.40% | 7.30% | 7.41% | 6.19% |
| 6-mth CD rate | 8.30% | 7.65% | 7.85% | 6.50% |
| 1 yr CD rate | 8.50% | 8.30% | 8.33% | 6.58% |
| Key announcements in the month | Release Date |
|---|---|
| China GDP, Q3 2018 | October 19 |
| ECB Refinancing Rate | October 25 |
| US GDP Advance, Q3 2018 | October 26 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| October 19 | G-sec auction | 11,000 (Notified) |
| October 12 | Total repo | 1,19,600 (outstanding) |
| October 12 | Total reverse repo | 99,314 (outstanding) |
| October 12 | Marginal Standing Facility | 1,215 |
| October 12 | GOI Surplus Cash Balance with RBI | 0 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 7.22 | 8.50 | 8.67 | 9.92 | 9.06 | 9.32 |
| 1 Year | 7.57 | 8.65 | 8.88 | 9.17 | 9.32 | 9.56 |
| 3 Year | 7.72 | 8.74 | 9.97 | 9.33 | 9.61 | 9.90 |
| 5 Year | 7.89 | 8.80 | 9.03 | 9.39 | 9.68 | 10.07 |
| 10 Year | 7.92 | 8.81 | 9.17 | 9.56 | 10.02 | 10.36 |
G-sec and corporate bonds data as of Oct 15
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 October 2018
Next Update: 31th October 2018
Update Frequency: Once Every Fortnight
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