Money market update

Money market update

G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a same yield at 7.37%. The 10-year US Treasury yield hardened from 3.34% to 3.45%. The 3-month Interest Rate Future is trading at a level of 7.97%. The 10-year G-sec 6.90% GOI 2019 is likely to be volatile and trade between 7.32% and 7.42%.

Money market: The Call Rate and CBLO rate opened at 3.30% and 3.05% respectively. The money market rates are expected to remain rangebound.

Swap Market: The 5Y OIS swap rate is trading in the range of 6.96% - 7.01%, compared to previous closing levels of 6.95%. The OIS swap rates are expected to trade rangebound tracking G-sec yields.

Forex Market: The INR opened at Rs45.92 compared to the previous closing level of Rs46.50. Rupee is expected to trade in the range of Rs45.75 – Rs46.25.