Money Market update

Money Market update

G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 7.25% compared to previous close at 7.24%. The 10-year US Treasury yield hardened from 3.24% to 3.27%.

The 3-month Interest Rate Future is trading at a level of 8.00%. The 10-year G-sec 6.90% GOI 2019 is likely to be volatile and trade between 7.22% to 7.30%.

Money Market: The Call Rate and CBLO rate opened at 3.28% and 2.35%. The money market rates are expected to remain range-bound.

Swap Market: The 5Y OIS swap rate is trading in the range of 6.84% - 6.89%, compared to previous closing levels of 6.85%. The OIS swap rates are expected to trade range-bound tracking G-sec yields.

§Forex Market: The INR opened at Rs46.82 against the USD compared to previous closing level of Rs46.89. Rupee is expected to trade in the range of 46.50 – 47.00.

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