G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 6.96%, slightly higher than previous closing levels of 6.95%.
The yields rose at opening tracking hardening of US Treasury yields. The 10-year US Treasury hardened from 3.70% to 3.75%.
The Markets would be looking forward to outcome of First Quarter Review of Monetary Policy for FY 2009-10.
The 10-year G-sec 6.90% GOI 2019 is likely to be volatile. It trade anywhere in the range of 6.80% - 7.00% depending on the policy outcomes.
Money Market: The Call rate and CBLO rate opened at 3.26% 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 6.35% - 6.40%, compared to previous closing levels of 6.38%. The OIS swap rates are expected to trade rangebound tracking movement in G-sec yields, depending on policy outcome.
Forex Market: The INR opened at Rs48.21 against the USD compared to previous closing level of Rs 48.17. Rupee is expected to trade in the range of 47.90 – 48.50.