Money Market Update

Money Market Update

G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 7.43% similar to previous closing levels. The yields are expected to ease tracking OMO purchase announcement worth Rs6,000 crore.

The markets would look forward to cut-offs in T-Bill auctions. The 3-month Interest Rate Future is trading in the range of 8.19% - 8.20%.

The 10-year US Treasury yield eased from 3.40% to 3.38%. The 10-year G-sec 6.90% GOI 2019 is likely to trade in the range of 7.38% - 7.48%.

Money Market: The Call Rate and CBLO rate opened at 3.29% and 2.75%. The money market rates are expected to remain soft tracking comfortable liquidity in the system.

Swap Market: The 5Y OIS swap rate traded in the range of 6.35% - 6.40%, compared to previous closing levels of 6.39%. The OIS swap rates are expected to trade rangebound tracking G-sec yields.

Forex Market: The INR opened at Rs49.20 against the USD compared to previous closing level of Rs49.03. Rupee is expected to trade in the range of 48.90 – 49.40.