Money Market Update

Money Market Update

G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 7.01%, lower than previous closing levels of 7.03%. The yields lowered tracking easing of US Treasury yields.

The 10-year US Treasury yield fell from 3.80% to 3.71%. The markets would look forward to reading on IIP Index for July and cut-offs in T-Bill auctions. The 10-year G-sec 6.90% GOI 2019 is likely to trade in the range of 6.95% - 7.03%.

Money Market: The Call Rate and CBLO rate opened at 3.28% and 2.95%. The money market rates are expected to be easy tracking comfortable liquidity conditions.

Swap Market: The 5Y OIS swap rate traded in the range of 6.35% - 6.40%, compared to previous closing levels of 6.42%. The OIS swap rates are expected to be rangebound, tracking G-sec yields.

Forex Market: The INR opened at 48.11 against the USD compared to previous closing level of 7.96. Rupee is expected to trade in the range of 48.00 – 48.50.

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