Indian Debt Market Summary
- The interbank call money rate ended at 6.30% on 31st October, steady compared to 30th October.
- Gilt prices ended lower on 31st October weighed by the rupee’s weakness against the US dollar.
- Media reports indicating a growing rift between the central bank and the Centre pulled bond prices down further.
- The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.85% on 31st October as against 7.83% on 30th October.
Debt Market Watch Updates
| Debt Watch | 31 Oct | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 6.30% | 6.35% | 6.50% | 5.80% |
| Repo | 6.50% | 6.50% | 6.50% | 6.00% |
| 10 Yr Gilt | 7.85% | 7.87% | 8.02% | 6.86% |
| 1-mth CP rate | 7.85% | 7.80% | 8.15% | 6.65% |
| 3-mth CP rate | 8.65% | 8.44% | 8.30% | 6.85% |
| 6-mth CP rate | 9.15% | 9.15% | 8.75% | 7.10% |
| 1 yr CP rate | 9.30% | 9.30% | 9.10% | 7.20% |
| 1-mth CD rate | 7.00% | 7.05% | 7.00% | 6.07% |
| 3-mth CD rate | 7.45% | 7.40% | 7.18% | 6.19% |
| 6-mth CD rate | 8.32% | 8.32% | 7.80% | 6.50% |
| 1 yr CD rate | 8.50% | 8.50% | 8.65% | 6.58% |
| Key announcements in the month | Release Date |
|---|---|
| BoE Interest Rate Decision | November 1 |
| China Caixin Manufacturing PMI,October | November 1 |
| US Non-Farm Payrolls,October | November 2 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| November 2 | G-sec auction | 11,000 (Notified) |
| October 29 | Total repo | 1,27,884 (outstanding) |
| October 29 | Total reverse repo | 15,950 (outstanding) |
| October 29 | Marginal Standing Facility | 0 |
| October 29 | GOI Surplus Cash Balance with RBI | 26,666 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 7.17 | 8.64 | 8.81 | 9.06 | 9.20 | 9.46 |
| 1 Year | 7.48 | 8.70 | 8.93 | 9.22 | 9.37 | 9.61 |
| 3 Year | 7.65 | 8.79 | 9.02 | 9.38 | 9.66 | 9.65 |
| 5 Year | 7.83 | 8.85 | 9.08 | 9.44 | 9.73 | 10.12 |
| 10 Year | 7.85 | 8.73 | 9.09 | 9.48 | 9.94 | 10.28 |
G-sec and corporate bonds data as of Oct 31
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: 31st October 2018
Next Update: 15th November 2018
Update Frequency: Once Every Fortnight
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