Weekly Market Highlights:
- 10 year 2034 Gsec yields fell by 3 bps on weekly basis.
- RBI MPC keeps the policy rates unchanged contrary to ECB and BoC rate cuts
- India’s Q4 GDP grew by 7.8% and for FY24 growth recorded at 8.2%.
- As per RBI MPC, GDP growth projection for FY25 is 7.2% and gross fiscal deficit target is at 4.5%.
- Weekly Gsec auction cut-off for 2034 and 2053 stood at 7.02% and 7.14% respectively.
- Weekly T-bill auction data shows 3M and 6M yields up by 1-2 bps compared to previous week auctions.
- Domestic market liquidity surplus stood at Rs. 450.2 billion.
- RBI MPC meeting shows that liquidity is in surplus and forex reserves stood at record USD 651.5 billion.
- Non-farm payroll data in the US shows a stronger job addition of 272K than market expectation of 185K.
- UST 10 year yields are up and closed at 4.43% post strong NFP numbers.
Market Data | |||
Particulars | 7/6/2024 | 31/5/2024 | Change |
10 Yr Benchmark Gsec (%) | 7.02% | 6.99% | 3 bps |
Banking Liquidity (in Rs Billion) | 450.2 | -1013 | 100.00% |
5 Yr OIS (%) | 6.35% | 6.45% | -645 bps |
1 Yr OIS (%) | 6.78% | 6.85% | -685 bps |
INRBonds Retail High Yield Index | 9.64% | 9.64% | 0 bps |
Nifty | 23,290 | 22,531 | 3.37% |
10 Yr SDL | 7.41% | 7.38% | 3 bps |
91 Day T-Bill (%) | 6.86% | 6.85% | 1 bps |
182 Day T-Bill (%) | 7.02% | 7.01% | 1.09 bps |
10 Yr US Treasury Yield (%) | 4.43% | 4.50% | -7 bps |
US Junk Bond Yield (%) | 7.62% | 7.84% | -22 bps |
Brent Crude Oil (In USD per Barrel) | 79.44 | 81.37 | -2.37% |
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% | |