Money Market Update

Money Market Update

G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 7.10%, higher than previous closing levels of 7.08%.

The markets would continue to have thin market volumes today, due to Banks’ strike. The US Treasury yields eased slightly with 10-year US Treasury yield falling from 3.80% to 3.79%.

The markets would look forward to cut-offs in G-sec auction. The 10-year G-sec 6.90% GOI 2019 is likely to trade in the range of 7.05% - 7.13% depending on the cut-offs in G-sec auction.

Money Market: The Call Rate and CBLO rate opened at 3.20% and 1.80%. The money market rates are expected to be volatile tracking banks’ strike.

Swap Market: The 5Y OIS swap rate traded in the range of 6.40% - 6.45%, compared to previous closing levels of 6.44%. The OIS swap rates are expected to be volatile tracking G-sec yields.

Forex Market: The INR opened at Rs47.83 against the USD compared to previous closing level of Rs47.70. Rupee is expected to trade in the range of 47.50 – 48.00.

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