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% compared to closed at 7.11% yesterday. The 10-year US Treasury yield eased from 3.44% to 3.40%.

The 3-month Interest Rate Future is trading at a level of 7.94%. The 10-year G-sec 6.90% GOI 2019 is likely to trade in the range of 7.04% - 7.12%. The markets would look forward to cut-offs in G-sec auctions.

Money market: The Call Rate and CBLO rate opened at 3.30% and 2.10%. 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 6.56% - 6.59%, compared to previous closing levels of 6.58%. The OIS swap rates are expected to trade range-bound tracking G-sec yields.

Forex Market: The INR opened at Rs48.28 against the USD compared to previous closing level of Rs47.97. Rupee is expected to trade in the range of 48.00 – 48.50.