G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 7.08% similar to previous day closing levels. RBI announced State Development Loan auction worth Rs9150 crore to be held on 22 September. The markets would look forward to cut-offs in OMO purchase auctions and reading on WPI Inflation.
The 10-year US Treasury yield hardened from 3.47% to 3.48%. The 3-month Interest Rate Future is trading at a level of 7.99%. The 10-year G-sec 6.90% GOI 2019 is likely to trade in the range of 7.05% - 7.15%.
Money market: The Call Rate and CBLO rate opened at 3.30% and 2.89%. The money market rates are expected to remain soft tracking comfortable liquidity in the system.
Swap Market: The 5Y OIS swap rate traded in the range of 6.58% - 6.63%, compared to previous closing levels of 6.59%. The OIS swap rates are expected to trade range-bound tracking G-sec yields.
Forex Market: The INR opened at Rs47.99 against the USD compared to previous closing level of Rs48.25. Rupee is expected to trade in the range of 47.75 – 48.25.