Indian Debt Market Summary
- The interbank call money rate ended flat at 5.85% on 29th May.
- Gilt prices ended higher on 29th May supported by bond purchases made by foreign investors
- A decline in US benchmark treasury yields amid hopes of an interest rate cut by the RBI in its upcoming June policy announcement also aided gilts.
- The yield of the 10 year benchmark 7.26% 2029 paper ended at 7.12% on 29th May as against 7.15% on 28th May.
Debt Market Watch Updates
| Debt Watch | 29 May | Week Ago | Month Ago | Year Ago |
|---|---|---|---|---|
| Call Rate | 5.85% | 5.85% | 5.80% | 5.80% |
| Repo | 6.00% | 6.00% | 6.00% | 6.00% |
| 10 Yr Gilt | 7.12% | 7.26% | 7.41% | 7.76% |
| 1-mth CP rate | 6.82% | 7.25% | 7.30% | 7.40% |
| 3-mth CP rate | 7.00% | 7.30% | 7.70% | 8.07% |
| 6-mth CP rate | 7.70% | 7.85% | 8.30% | 8.45% |
| 1 yr CP rate | 8.00% | 8.25% | 8.50% | 8.70% |
| 1-mth CD rate | 6.50% | 6.80% | 7.00% | 7.40% |
| 3-mth CD rate | 6.60% | 6.77% | 7.21% | 7.50% |
| 6-mth CD rate | 7.00% | 7.10% | 7.45% | 8.45% |
| 1 yr CD rate | 7.25% | 7.54% | 7.76% | 8.10% |
| Key announcements in the month | Release Date |
|---|---|
| US GDP, Q1 2019 | May 30 |
| US Pending Home Sales, April | May 17 |
| India’s GDP (Annual Estimate), 2019 | May 31 |
Auctions/ Money market operations
| Date | Description | Amount (Rs Cr) |
|---|---|---|
| May 31 | G-sec auction | 17,000 (Allotted) |
| May 28 | Total repo | 59,006 (outstanding) |
| May 28 | Total reverse repo | 39,998(outstanding) |
| May 28 | Marginal Standing Facility | 1000 |
| May 28 | GOI Surplus Cash Balance with RBI | 44,929 |
| Yield (%) | G-Sec | AAA | AA+ | AA | AA- | A+ |
|---|---|---|---|---|---|---|
| 6 Month | 6.24 | 7.15 | 7.32 | 7.57 | 7.71 | 7.97 |
| 1 Year | 6.33 | 7.45 | 7.64 | 7.93 | 8.08 | 8.32 |
| 3 Year | 6.73 | 7.58 | 7.77 | 8.13 | 8.41 | 8.70 |
| 5 Year | 6.90 | 7.67 | 7.94 | 8.30 | 8.95 | 8.98 |
| 10 Year | 7.12 | 8.05 | 8.41 | 8.80 | 9.26 | 9.60 |
G-sec and corporate bonds data as of May 29
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: 31st May 2019
Next Update: 15th june 2019
Update Frequency: Once Every Fortnight
Archives
- 15 July 2019
- 28 June 2019
- 14 June 2019
- 29 May 2019
- 15 May 2019
- 30 April 2019
- 15 April 2019
- 29 March 2019
- 14 March 2019
- 28 February 2019
- 15 February 2019
- 31 January 2019
- 15 January 2019
- 31 December 2018
- 15 December 2018
- 30 November 2018
- 15 November 2018
- 31 July 2018
- 15 October 2018
- 15 September 2018
- 31 August 2018
- 31 October 2018
- 30 September 2018
- 15 August 2018
