Indian Debt Market Summary
- The interbank call money rate ended slightly lower at 6.35% on 29th January as against 6.40% on 28th
- Gilt prices ended slightly higher on 29th January aided by an overnight fall in crude oil prices, even as concerns about India’s fiscal consolidation persisted ahead of the interim budget announcement.
- The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.53% on 29th January as against 7.54% on 28th
- The yield of the 10 year 7.26% 2029 paper ended at 7.32% on 29th January as against 7.33% on 28th January.
Debt Market Watch Updates
| Debt Watch | 29 Jan | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 6.35% | 6.50% | 6.50% | 5.80% |
| Repo | 6.50% | 6.50% | 6.50% | 6.00% |
| 10 Yr Gilt | 7.53% | 7.53% | 7.39% | 7.44% |
| 1-mth CP rate | 6.90% | 6.92% | 7.16% | 6.85% |
| 3-mth CP rate | 7.68% | 7.65% | 7.33% | 8.00% |
| 6-mth CP rate | 8.30% | 8.50% | 8.25% | 8.10% |
| 1 yr CP rate | 8.70% | 8.70% | 8.90% | 8.20% |
| 1-mth CD rate | 6.63% | 6.75% | 6.95% | 6.85% |
| 3-mth CD rate | 7.20% | 7.23% | 7.00% | 7.26% |
| 6-mth CD rate | 7.63% | 7.60% | 7.65% | 8.10% |
| 1 yr CD rate | 7.90% | 7.75% | 7.93% | 7.48% |
| Key announcements in the month | Release Date |
|---|---|
| US GDP, Q4 2018 | January 30 |
| Eurozone GDP, Q4 2018 | January 31 |
| US Fed Interest Rate Decision | January 31 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| February 1 | G-sec auction | 12,000 (Notified) |
| January 28 | Total repo | 1,07,901 (outstanding) |
| January 28 | Total reverse repo | 51,717 (outstanding) |
| January 28 | Marginal Standing Facility | 101 |
| January 28 | GOI Surplus Cash Balance with RBI | 0 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 6.68 | 7.78 | 7.95 | 8.20 | 8.34 | 8.60 |
| 1 Year | 6.83 | 8.03 | 8.26 | 8.55 | 8.70 | 8.94 |
| 3 Year | 7.00 | 8.10 | 8.29 | 8.65 | 8.93 | 9.22 |
| 5 Year | 7.31/td> | 8.26 | 8.53 | 8.89 | 9.18 | 9.57 |
| 10 Year | 7.53 | 8.48 | 8.84 | 9.23 | 9.69 | 10.03 |
G-sec and corporate bonds data as of Jan 29
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 January 2019
Next Update: 15th February 2019
Update Frequency: Once Every Fortnight
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