Indian Debt Market Summary
- The interbank call money rate ended at 6.50% on 28th December as against 6.25% on 27th
- Gilts ended sharply lower on 28th December as concerns over fiscal deficit and higher state borrowing expectations dented sentiment.
- Profit sales ahead of the end of the quarter also weighed on prices.
- Overnight fall in crude oil prices gave bonds some support intraday.
- The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.39% on 28th December as against 7.28% on 27th Decembe
Debt Market Watch Updates
Debt Watch | 28 Dec | Week Ago | Month Ago | Year Ago |
---|---|---|---|---|
Call Rate | 6.50% | 6.25% | 6.30% | 5.95% |
Repo | 6.50% | 6.50% | 6.50% | 6.00% |
10 Yr Gilt | 7.39% | 7.28% | 7.64% | 7.40% |
1-mth CP rate | 7.16% | 7.16% | 7.70% | 6.85% |
3-mth CP rate | 7.33% | 7.40% | 7.80% | 6.97% |
6-mth CP rate | 8.25% | 8.50% | 9.04% | 7.165% |
1 yr CP rate | 8.90% | 9.00% | 9.17% | 7.80% |
1-mth CD rate | 6.95% | 6.95% | 6.75% | 6.85% |
3-mth CD rate | 7.00% | 7.05% | 7.22% | 6.38% |
6-mth CD rate | 7.65% | 7.86% | 8.10% | 7.65% |
1 yr CD rate | 7.93% | 8.12% | 8.30% | 7.00% |
Key announcements in the month | Release Date |
---|---|
US ADP Report, December | January 3 |
US Nonfarm Payrolls, December | January 4 |
Eurozone Consumer Prices, November | January 4 |
Auctions/ Money market operations
Date | Description | Amount (Rs Cr) |
---|---|---|
December 28 | G-sec auction | 12,000 (Notified) |
December 27 | Total repo | 1,96,675 (outstanding) |
December 27 | Total reverse repo | 28,825 (outstanding) |
December 27 | Marginal Standing Facility | 710 |
December 27 | GOI Surplus Cash Balance with RBI | 82,695 |
Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
---|---|---|---|---|---|---|
6 Month | 6.86 | 7.90 | 8.07 | 8.32 | 8.46 | 8.72 |
1 Year | 6.83 | 8.10 | 8.33 | 8.62 | 8.77 | 9.01 |
3 Year | 7.08 | 8.24 | 8.47 | 8.83 | 9.11 | 9.40 |
5 Year | 7.22 | 8.26 | 8.49 | 8.85 | 9.14 | 9.53 |
10 Year | 7.39 | 8.39 | 8.75 | 9.14 | 9.60 | 9.94 |
G-sec and corporate bonds data as of Dec 28
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: 31st December 2018
Next Update: 15th January 2019
Update Frequency: Once Every Fortnight
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