Weekly Market Highlights:
- 10 year 2034 Gsec yields fell by 1bps on weekly basis.
- As the weekly T-bill auction size is trimmed by RBI, drop in rates for auction cut-off continues.
- S&P global gives India a BBB- with a positive outlook.
- INRBonds retail index declined by 1 bps on a weekly basis, in-line with Gsec movement.
- India’s Q4 GDP grew by 7.8% and for FY24 growth recorded at 8.2%.
- As per RBI annual report, GDP growth projection for FY25 is 7% and gross fiscal deficit target is at 4.5%.
- Weekly Gsec auction cut-off for 2029 and 2064 stood at 7.04% and 7.16% respectively.
- Domestic market liquidity deficit stood at Rs. 1013 billion.
- 360 One Prime Ltd public debt IPO is open for bidding.
- US Fed policy-meeting minutes show, policymakers are anticipating it would take longer to get confidence that inflation would move gradually towards the 2% target. Expects rates to remain higher.
- UST 10 year yields are up and closed at 4.5%.
Market Data | |||
Particulars | 31/5/2024 | 24/5/2024 | Change |
10 Yr Benchmark Gsec (%) | 6.99% | 7.00% | -1 bps |
Banking Liquidity (in Rs Billion) | -1013 | -2373 | 57.31% |
5 Yr OIS (%) | 6.45% | 6.40% | 5 bps |
1 Yr OIS (%) | 6.85% | 6.81% | 4 bps |
INRBonds Retail High Yield Index | 9.64% | 9.65% | 0 bps |
Nifty | 22,531 | 22,957 | -1.86% |
10 Yr SDL | 7.38% | 7.35% | 3 bps |
91 Day T-Bill (%) | 6.85% | 6.85% | -1 bps |
182 Day T-Bill (%) | 7.01% | 7.01% | -0.6 bps |
10 Yr US Treasury Yield (%) | 4.50% | 4.46% | 4 bps |
US Junk Bond Yield (%) | 7.84% | 7.72% | 12 bps |
Brent Crude Oil (In USD per Barrel) | 81.37 | 82.09 | -0.88% |
Primary & Secondary Corporate Bonds Data | |||
Primary Public Debt Issuance | Maturity | Yield | IP Frequency |
8.86% 360 One Prime Ltd | 18 Months | 9.22% | Monthly |
9.16% 360 One Prime Ltd | 18 Months | 9.23% | Annual |
8.98% 360 One Prime Ltd | 24 Months | 9.36% | Monthly |
9.35% 360 One Prime Ltd | 24 Months | 9.35% | Annual |
9.16% 360 One Prime Ltd | 36 Months | 9.55% | Monthly |
9.55% 360 One Prime Ltd | 36 Months | 9.55% | Annual |
9.21% 360 One Prime Ltd | 60 Months | 9.60% | Monthly |
9.6% 360 One Prime Ltd | 60 Months | 9.60% | Annual |
9.44% 360 One Prime Ltd | 120 Months | 9.86% | Monthly |
9.85% 360 One Prime Ltd | 120 Months | 9.84% | Annual |
Top 5 Secondary Retail Trades | Maturity | Yield | - |
7.99% HDFC BANK LIMITED | 11/7/2024 | 7.52% | |
9.65% HINDUJA LEYLAND FINANCE LIMITED | 29/5/2039 | 9.30% | |
7.34% POWER GRID CORPORATION OF INDIA LIMITED | 15/7/2024 | 7.35% | |