Money Market Update

Money Market Update

G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 7.03% higher than previous closing levels of 7.00%.

The yields opened higher tracking substantial hardening in US Treasury yields. The 10-year US Treasury yield hardened from 3.68% to 3.64%. The 10-year G-sec 6.90% GOI 2019 is likely to trade in the range of 6.99% - 7.04%.

Money Market: The Call rate and CBLO rate opened at 3.30% and 3.15% respectively. The money market rates are expected to remain soft tracking comfortable liquidity position. Most of the reported deals were for 5 day period due to strike call by PSU Banks.

Swap Market: The 5Y OIS swap rate traded in the range of 6.30% - 6.35%, compared to previous closing levels of 6.33%. The OIS swap rates are expected to trade rangebound tracking movement in G-sec yields.

Forex Market: The INR opened at Rs47.68 against the USD compared to previous closing level of Rs47.76. Rupee is expected to trade in the range of 47.50 – 47.80.