Indian Debt Market Summary
- The interbank call money rate ended at 6.25% on 27th February as against 6% on 26th
- Gilt prices ended lower on 27th February on escalation in geopolitical tensions between India and Pakistan.
- The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.67% on 27th February as against 7.59% on 26th
- The yield of the 10 year 7.26% 2029 paper ended at 7.47% on 27th February as against 7.42% on 26th February.
Debt Market Watch Updates
| Debt Watch | 27 Feb | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 6.25% | 6.10% | 6.35% | 5.75% |
| Repo | 6.25% | 6.25% | 6.50% | 6.00% |
| 10 Yr Gilt | 7.67% | 7.55% | 7.55% | 7.67% |
| 1-mth CP rate | 7.15% | 7.15% | 6.90% | 6.90% |
| 3-mth CP rate | 7.80% | 7.75% | 7.65% | 7.90% |
| 6-mth CP rate | 8.40% | 8.35% | 8.30% | 8.20% |
| 1 yr CP rate | 8.70% | 8.65% | 8.70% | 8.30% |
| 1-mth CD rate | 6.65% | 6.55% | 6.67% | 6.90% |
| 3-mth CD rate | 7.27% | 7.30% | 7.25% | 7.24% |
| 6-mth CD rate | 7.50% | 7.45% | 7.63% | 8.20% |
| 1 yr CD rate | 7.75% | 7.71% | 7.90% | 7.60% |
| Key announcements in the month | Release Date |
|---|---|
| US GDP, Q4 2018 | February 28 |
| India’s GDP (Annual Estimates), 2019 | February 28 |
| India’s Fiscal Deficit, January | February 28 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| March 1 | G-sec auction | 12,000 (Notified) |
| February 26 | Total repo | 1,29,348 (outstanding) |
| February 26 | Total reverse repo | 38,511 (outstanding) |
| February 26 | Marginal Standing Facility | 40 |
| February 26 | GOI Surplus Cash Balance with RBI | 35,940 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 6.45 | 7.70 | 7.87 | 8.12 | 8.26 | 8.52 |
| 1 Year | 6.59 | 8.00 | 8.23 | 8.52 | 8.67 | 8.91 |
| 3 Year | 6.86 | 8.12 | 8.31 | 8.67 | 8.95 | 9.24 |
| 5 Year | 7.17 | 8.29 | 8.56 | 8.92 | 9.21 | 9.60 |
| 10 Year | 7.67 | 8.66 | 9.02 | 9.41 | 9.87 | 10.21 |
G-sec and corporate bonds data as of Feb 27
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: 7.32% CGL 2024; 10 year G-Sec: 7.17% GS 2028
Last Updated: 28th February 2019
Next Update: 15th March 2019
Update Frequency: Once Every Fortnight
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