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Money Market Update

Money Market Update
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First Published: Tue, Jun 09 2009. 09 35 AM IST

G-sec Market: The benchmark 10-year security 6.05% GOI 2019 (FEB) opened at Rs96.35 implying a yield of 6.51%, lower than previous close of 6.58%.
The most actively traded G-sec 6.49% GOI 2015 opened at Rs100.10 implying a yield of 6.47%, similar to yesterday’s closing levels.
The G-sec markets are expected to remain bearish tracking concern over auction supplies. The US Treasury yields are hardening furthering the bearish sentiment. The 10 year G-sec yields are likely to trade rangebound between 6.50% – 6.60.
Money Market: The Call rate and CBLO rate opened at 3.25% and 2.75% respectively. The money market rates are expected to trade rangebound tracking comfortable liquidity position.
Swap Market: The 5Y OIS swap rate opened at 6.25% compared to previous closing levels of 6.24%. The OIS swap rates are expected to remain rangebound tracking the movement in G-sec yields.
Forex Market: The INR opened at Rs 47.65 against the USD compared to previous closing level of Rs 47.56. Rupee is expected to trade in the range of 47.30 – 47.80.
Click here to read previous day’s analysis
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First Published: Tue, Jun 09 2009. 09 35 AM IST