Indian Debt Market Summary
- The interbank call money rate ended at 6.25% on 13th December as against 6.50% on 12th
- Gilts ended flat and off earlier highs on 13th December due to profit sales.
- Earlier in the session, bonds rose after data showed that domestic inflation had cooled in November, thereby enhancing expectation of a shift in monetary policy stance in the upcoming February meeting.
- The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.41% on 13th December, level with 12th December’s close.
Debt Market Watch Updates
| Debt Watch | 15 Nov | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 6.25% | 6.25% | 6.35% | 5.80% |
| Repo | 6.50% | 6.50% | 6.50% | 6.00% |
| 10 Yr Gilt | 7.41% | 7.42% | 7.76% | 7.17% |
| 1-mth CP rate | 7.25% | 7.25% | 7.75% | 6.75% |
| 3-mth CP rate | 7.35% | 7.40% | 8.20% | 6.87% |
| 6-mth CP rate | 8.60% | 8.60% | 9.15% | 7.35% |
| 1 yr CP rate | 9.10% | 9.01% | 9.30% | 7.45% |
| 1-mth CD rate | 6.90% | 6.90% | 6.90% | 6.75% |
| 3-mth CD rate | 7.00% | 7.00% | 7.40% | 6.25% |
| 6-mth CD rate | 7.90% | 7.95% | 8.30% | 7.35% |
| 1 yr CD rate | 8.20% | 8.20% | 8.45% | 6.75% |
| Key announcements in the month | Release Date |
|---|---|
| China Industrial Output, November | December 14 |
| US Housing Starts, November | December 18 |
| US Federal Funds Rate Decision | December 20 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| December 7 | G-sec auction | 12,000 (Allotted) |
| December 12 | Total repo | 95,090 (outstanding) |
| December 12 | Total reverse repo | 17,720 (outstanding) |
| December 12 | Marginal Standing Facility | 2 |
| December 12 | GOI Surplus Cash Balance with RBI | 0 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 6.85 | 8.10 | 8.27 | 8.52 | 8.66 | 8.92 |
| 1 Year | 7.01 | 8.38 | 8.61 | 8.90 | 9.05 | 9.29 |
| 3 Year | 7.16 | 8.43 | 8.66 | 9.02 | 9.30 | 9.73 |
| 5 Year | 7.34 | 8.46 | 8.69 | 9.05 | 9.34 | 9.73 |
| 10 Year | 7.41 | 8.49 | 8.85 | 9.24 | 9.70 | 10.04 |
G-sec and corporate bonds data as of Dec 13
6 month G-sec: 182 day T-Bill rate; 1 year G-Sec: 6.65% CGL 2020; 3 year G-Sec: 8.79% CGL 2021; 5 year G-Sec: 7.68% CGL 2023; 10 year G-Sec: 7.17% GS 2028
Last Updated: 15th December 2018
Next Update: 31st December 2018
Update Frequency: Once Every Fortnight
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