Indian Debt Market Summary
- The interbank call money rate ended at 6.28% on 29th November as against 6.30% on 28th November
- Gilt prices ended higher on 28th November as investors reacted positively to the RBI’s announcement of open market operations (OMO) purchases of gilts worth Rs 40000 cr in December, and further increased on 29th November due to a rise in the Indian rupee and fall in global crude oil prices.
- The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.61% on 29th November as against 7.64% on 28th November.
Debt Market Watch Updates
| Debt Watch | 15 Nov | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 6.28% | 6.45% | 6.30% | 5.80% |
| Repo | 6.50% | 6.50% | 6.50% | 6.00% |
| 10 Yr Gilt | 7.61% | 7.71% | 7.81% | 7.03% |
| 1-mth CP rate | 7.70% | 7.72% | 7.80% | 6.59% |
| 3-mth CP rate | 7.75% | 7.85% | 8.75% | 6.82% |
| 6-mth CP rate | 9.04% | 9.05% | 9.15% | 7.15% |
| 1 yr CP rate | 9.17% | 9.17% | 9.30% | 7.30% |
| 1-mth CD rate | 6.80% | 7.00% | 7.10% | 6.59% |
| 3-mth CD rate | 7.20% | 7.22% | 7.45% | 6.22% |
| 6-mth CD rate | 8.08% | 8.17% | 8.32% | 7.15% |
| 1 yr CD rate | 8.30% | 8.30% | 8.50% | 6.58% |
| Key announcements in the month | Release Date |
|---|---|
| China Manufacturing PMI, November | November 30 |
| India Core Sector Growth, October | November 30 |
| India GDP, Q2FY19 | November 30 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| November 30 | G-sec auction | 12,000 (Notified) |
| November 28 | Total repo | 1,24,696 (outstanding) |
| November 28 | Total reverse repo | 43,666 (outstanding) |
| November 28 | Marginal Standing Facility | 200 |
| November 28 | GOI Surplus Cash Balance with RBI | 0 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 7.03 | 8.20 | 8.37 | 8.62 | 8.76 | 9.02 |
| 1 Year | 7.17 | 8.40 | 8.63 | 8.92 | 9.07 | 9.31 |
| 3 Year | 7.40 | 8.45 | 8.68 | 9.04 | 9.32 | 9.61 |
| 5 Year | 7.52 | 8.59 | 8.82 | 9.18 | 9.47 | 9.86 |
| 10 Year | 7.76 | 8.65 | 9.01 | 9.40 | 9.86 | 10.20 |
G-sec and corporate bonds data as of Nov 29
6 month G-sec: 182 day T-Bill rate; 1 year G-Sec: 6.35% CGL 2020; 3 year G-Sec: 8.20% CGL 2022; 5 year G-Sec: 8.83% CGL 2023; 10 year G-Sec: 7.17% GS 2028
Last Updated: 30th November 2018
Next Update: 15th November 2018
Update Frequency: Once Every Fortnight
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