G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 6.86%, slightly higher than previous closing levels of 6.85%.
The yields hardened tracking expectations over continuation of frontloading in the new Government Borrowing Program Calendar, to be announced in forthcoming days.
The US Treasury yields hardened sharply impacting the market sentiment. The benchmark 10-year US Treasury hardened from 3.50% to 3.63%.
The markets would look forward to underwriting commissions and reading on WPI inflation for week ended 4 July 2009. The 10-year G-sec 6.90% GOI 2019 2014 is likely to trade in the range of 6.80%- 6.90%.
Money Market: The Call rate and CBLO rate opened at 3.25% and 3.00% respectively. The money market rates are expected to remain soft tracking comfortable liquidity position.
Swap Market: The 5Y OIS swap rate traded in the range of 6.20% - 6.25%, compared to previous closing levels of 6.20%. The OIS swap rates are expected to to trade rangebound tracking movement in G-sec yields.
Forex Market: The INR opened at Rs48.51 against the USD compared to previous closing level of Rs48.65. Rupee is expected to trade in the range of 48.20 – 48.70.