Indian Debt Market Summary
- The interbank call money rate ended at 5.80% on 30th April as against 6% on 29th April.
- Gilt prices ended flat and off earlier highs on 30th April on profit sales.
- A cooling in crude oil prices provided support to bonds intraday.
- In the weekly bond sale, the banking regulator sold dated securities for a total notified Rs 17,000 crore.
- The yield of the 10 year benchmark 7.26% 2029 paper ended unchanged at 7.39% on 30th April.
Debt Market Watch Updates
| Debt Watch | 30 Apr | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 5.80% | 5.80% | 6.15% | 5.80% |
| Repo | 6.00% | 6.00% | 6.25% | 6.00% |
| 10 Yr Gilt | 7.39% | 7.41% | 7.27% | 7.73% |
| 1-mth CP rate | 7.60% | 7.30% | 7.02% | 7.10% |
| 3-mth CP rate | 8.00% | 7.70% | 7.65% | 7.70% |
| 6-mth CP rate | 8.35% | 8.30% | 7.70% | 7.85% |
| 1 yr CP rate | 8.65% | 8.50% | 7.95% | 8.30% |
| 1-mth CD rate | 7.10% | 7.00% | 6.62% | 7.10% |
| 3-mth CD rate | 7.38% | 7.21% | 6.90% | 7.14% |
| 6-mth CD rate | 7.50% | 7.45% | 7.00% | 7.85% |
| 1 yr CD rate | 7.76% | 7.76% | 7.33% | 7.70% |
| Key announcements in the month | Release Date |
|---|---|
| China’s Consumer Price Index, April | May 8 |
| US Consumer Price Index, April | May 10 |
| UK GDP (Preliminary), Q1 2019 | May 10 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| May 3 | G-sec auction | 17,000 (Allotted) |
| May 2 | Total repo | 86,259 (outstanding) |
| May 2 | Total reverse repo | 22,455 (outstanding) |
| May 2 | Marginal Standing Facility | 510 |
| May 2 | GOI Surplus Cash Balance with RBI | 63,299 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 6.48 | 7.65 | 7.82 | 8.07 | 8.21 | 8.47 |
| 1 Year | 6.56 | 7.85 | 8.04 | 8.33 | 8.48 | 8.72 |
| 3 Year | 7.01 | 7.98 | 8.17 | 8.53 | 8.81 | 9.10 |
| 5 Year | 7.31 | 8.18 | 8.45 | 8.81 | 9.10 | 9.49 |
| 10 Year | 7.39 | 8.45 | 8.81 | 9.20 | 9.66 | 10.00 |
G-sec and corporate bonds data as of May 3
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: 30th April 2019
Next Update: 15th May 2019
Update Frequency: Once Every Fortnight
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