Money Market update

Money Market update

G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 7.34% compared to the previous closing of 7.32%. The 10-year US Treasury yield hardened from 3.27% to 3.40%. 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 7.30% and 7.40%.

Money Market: The Call Rate and CBLO rate opened at 3.30% and 2.95% respectively. The money market rates are expected to remain range-bound.

Swap Market: The 5Y OIS swap rate is trading in the range of 6.91% - 6.96%, compared to previous closing levels of 6.89%. The OIS swap rates are expected to trade range-bound tracking G-sec yields.

Forex Market: The INR opened at the same level of yesterday 46.55. Rupee is expected to trade in the range of 46.30 – 46.80.