Indian Debt Market Summary
- The interbank call money rate ended at 6.15% on 15th April as against 5.90% on 12th April.
- Gilt prices ended higher on 15th April as sentiment was lifted by data that showed a cooling in core consumer inflation.
- The IMD’s forecast of a ‘near normal’ monsoon this year also augured well for bonds.
- The yield of the 10 year benchmark 7.26% 2029 paper ended at 7.39% on 15th April as against 7.41% on 12th April.
Debt Market Watch Updates
| Debt Watch | 15 Apr | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 6.15% | 6.00% | 6.25% | 5.85% |
| Repo | 6.00% | 6.00% | 6.25% | 6.00% |
| 10 Yr Gilt | 7.39% | 7.40% | 7.34% | 7.43% |
| 1-mth CP rate | 7.25% | 6.90% | 7.55% | 6.91% |
| 3-mth CP rate | 7.65% | 7.65% | 7.60% | 7.33% |
| 6-mth CP rate | 8.00% | 7.80% | 8.00% | 7.65% |
| 1 yr CP rate | 8.15% | 7.95% | 8.15% | 7.80% |
| 1-mth CD rate | 6.70% | 6.50% | 7.05% | 6.91% |
| 3-mth CD rate | 7.00% | 6.85% | 7.16% | 6.78% |
| 6-mth CD rate | 7.15% | 7.09% | 7.30% | 7.65% |
| 1 yr CD rate | 7.50% | 7.33% | 7.45% | 7.25% |
| Key announcements in the month | Release Date |
|---|---|
| US Retail Sales, March | April 16 |
| China GDP, Q1 2019 | April 17 |
| US New Home Sales, March | April 23 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| April 18 | G-sec auction | 17,000 (Notified) |
| April 12 | Total repo | 1,02,758 (outstanding) |
| April 12 | Total reverse repo | 65,696 (outstanding) |
| April 12 | Marginal Standing Facility | 5 |
| April 12 | GOI Surplus Cash Balance with RBI | 46,529 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 6.33 | 7.35 | 7.52 | 7.77 | 7.91 | 8.17 |
| 1 Year | 6.51 | 7.60 | 7.79 | 8.08 | 8.23 | 8.47 |
| 3 Year | 6.99 | 7.78 | 7.97 | 8.33 | 8.61 | 8.90 |
| 5 Year | 7.21 | 7.93 | 8.20 | 8.56 | 8.85 | 9.24 |
| 10 Year | 7.39 | 8.44 | 8.80 | 9.19 | 9.65 | 9.99 |
G-sec and corporate bonds data as of Apr 15
6 month G-sec: 182 day T-Bill rate; 1 year G-Sec: 6.65% CGL 2020; 3 year G-Sec: 8.13% CGL 2022; 5 year G-Sec: 7.32% CGL 2024; 10 year G-Sec: 7.26% GS 2029
Last Updated: 15th April 2019
Next Update: 30th April 2019
Update Frequency: Once Every Fortnight
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