G-sec Market: The most traded G-sec 7.02% GOI 2016 opened at a yield of 7.08% compared to previous closing levels of 7.10%. The yields eased tracking easing of US yields. The 10-year US Treasury yield fell from 3.51% to 3.45%.
The markets would look forward to cut-offs in OMO auctions and underwriting auctions. WPI Inflation for week ended 8 August 2009 is to be released today.
The most traded G-sec 7.02% GOI 2016 is likely to trade in the range of 7.06%-7.11%. The 10-year G-sec 6.90% GOI 2019 is likely to trade in the range of 7.08% - 7.15%.
Money Market: The Call Rate and CBLO rate opened at 3.29% and 2.99%. The money market rates are expected to be easy tracking comfortable liquidity conditions.
Swap Market: The 5Y OIS swap rate traded in the range of 6.35% - 6.40%, compared to previous closing levels of 6.41%. The OIS swap rates are expected to be rangebound, tracking G-sec yields.
Forex Market: The INR opened at Rs48.81 against the USD compared to previous closing level of Rs 48.80. Rupee is expected to trade in the range of 48.60 – 49.10.