G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 7.10% compared to previous close at 7.16% on Friday. The 10-year US Treasury yield eased from 3.34% to 3.31%.
The 3-month Interest Rate Future is trading at a level of 7.94%. The 10-year G-sec 6.90% GOI 2019 is likely to be volatile and trade between 7.05% to 7.25%, depending on amount of second-half borrowing and announcement on HTM cap rise, if any.
Money market: The Call Rate and CBLO rate shall be in the range of 3.25% - 3.50%. The money market rates are slightly to be higher in view of half yearly closing.
Swap Market: The 5Y OIS swap rate traded in the range of 6.53% - 6.58%, compared to previous closing levels of 6.57%. The OIS swap rates are expected to trade range-bound tracking G-sec yields.
Forex Market: The INR opened at Rs48.08 against the USD compared to previous closing level of Rs47.98. Rupee is expected to trade in the range of 47.90 – 48.40.