Indian Debt Market Summary
- The interbank call money rate ended at 6% on 14th March, flat compared to 13th March.
- Gilt prices ended mostly level on 14th March as market players remained on the sidelines prior to the release of domestic consumer inflation figures for February.
- The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.51% on 13th March.
- The yield of the 10 year 7.26% 2029 paper ended at 7.36% on 13th March compared to 7.35% on 12th March.
Debt Market Watch Updates
| Debt Watch | 14 Mar | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 6.00% | 6.05% | 6.05% | 5.80% |
| Repo | 6.25% | 6.25% | 6.25% | 6.00% |
| 10 Yr Gilt | 7.51% | 7.56% | 7.53% | 7.63% |
| 1-mth CP rate | 7.55% | 7.55% | 6.80% | 7.65% |
| 3-mth CP rate | 7.65% | 7.70% | 7.60% | 7.65% |
| 6-mth CP rate | 8.20% | 8.40% | 8.20% | 7.85% |
| 1 yr CP rate | 8.35% | 8.65% | 8.65% | 7.95% |
| 1-mth CD rate | 7.16% | 7.20% | 6.45% | 7.65% |
| 3-mth CD rate | 7.30% | 7.32% | 7.14% | 7.00% |
| 6-mth CD rate | 7.45% | 7.50% | 7.45% | 7.85% |
| 1 yr CD rate | 7.58% | 7.75% | 7.80% | 7.35% |
| Key announcements in the month | Release Date |
|---|---|
| India Wholesale Inflation, February | March 14 |
| US Consumer Sentiment, March | March 15 |
| BoJ Monetary Policy Decision | March 15 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| March 15 | G-sec auction | 18,000 (Notified) |
| March 11 | Total repo | 1,16,235 (outstanding) |
| March 11 | Total reverse repo | 77,478 (outstanding) |
| March 11 | Marginal Standing Facility | 300 |
| March 11 | GOI Surplus Cash Balance with RBI | 0 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 6.41 | 7.55 | 7.72 | 7.97 | 8.11 | 8.37 |
| 1 Year | 6.55 | 7.70 | 7.89 | 8.18 | 8.33 | 8.57 |
| 3 Year | 6.72 | 7.75 | 7.94 | 8.30 | 8.58 | 8.87 |
| 5 Year | 7.02 | 7.91 | 8.18 | 8.92 | 8.83 | 9.22 |
| 10 Year | 7.51 | 8.40 | 8.76 | 9.15 | 9.61 | 9.95 |
G-sec and corporate bonds data as of Mar 12
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: 15th March 2019
Next Update: 31st March 2019
Update Frequency: Once Every Fortnight
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