Weekly Market Highlights:
- 10 year 2034 Gsec yields fell by 4 bps on weekly basis.
- Weekly Gsec auction cut-off for the 2031, 2039 and 2064 stood at 7.02%, 7.034% and 7.1175% respectively.
- Weekly T-bill auction data shows 3M and 6M yields up by 1 bps compared to previous week auctions.
- Domestic market liquidity surplus stood at Rs.148.2 billion.
- India May core inflation CPI stands at 3.1% and combined inflation at 4.75%.
- The INR Bonds high yield Index stood at 9.565% down 8bps biweekly basis.
- The US CPI stands at 3.27%.
- FOMC expects a total of 5 rate cuts in FY25.
- As the Fed cuts rates throughout FY25, the value of existing bonds in the market is expected to rise, making high-yield corporate bonds particularly attractive for the current fiscal year.
- Despite a hawkish commentary by the FOMC, markets discounted the upcoming rate cuts as USD 10 year yields down and closed at 4.22%.
Market Data | |||
Particulars | 14/6/2024 | 7/6/2024 | Change |
10 Yr Benchmark Gsec (%) | 6.98% | 7.02% | -4 bps |
Banking Liquidity (in Rs Billion) | 148.2 | 450.2 | 67.08% |
5 Yr OIS (%) | 6.34% | 6.35% | -1 bps |
1 Yr OIS (%) | 6.77% | 6.78% | -1 bps |
INRBonds Retail High Yield Index | 9.57% | 9.64% | -8 bps |
Nifty | 23,466 | 23,290 | 0.75% |
10 Yr SDL | 7.41% | 7.41% | 0 bps |
91 Day T-Bill (%) | 6.84% | 6.86% | -2 bps |
182 Day T-Bill (%) | 6.99% | 7.02% | -2.64 bps |
10 Yr US Treasury Yield (%) | 4.22% | 4.43% | -21 bps |
US Junk Bond Yield (%) | 7.54% | 7.62% | -8 bps |
Brent Crude Oil (In USD per Barrel) | 82.67 | 79.44 | 4.07% |
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 | - |
7.02% NATIONAL HIGHWAYS AUTHORITY OF INDIA | 10/2/2026 | 5.15% | |
11.40% KEERTANA FINSERV PVT LTD | 10/5/2026 | 13.25% | |
8.40% ICICI BANK LTD | 13/5/2026 | 7.70% | |
8.3439% HDB FINANCIAL SERVICES | 5/7/2027 | 8.32% | |
9.95% UP POWER CORP LTD | 31/3/2031 | 9.21% | |
Currency Market Data | |||
Particulars | 14/6/2024 | 7/6/2024 | Change |
USD/INR | 83.55 | 83.525 | 0.03% |
DXY | 105.52 | 104.93 | 0.56% |
USD/ Brazil Real | 5.38 | 5.34 | 0.75% |
EUR/ USD | 1.0702 | 1.0803 | -0.93% |
USD/CNY | 7.2558 | 7.2478 | 0.11% |
USD/JPY | 157.38 | 156.7 | 0.43% |
USD/ Russian Ruble | 89.5779 | 88.63 | 1.07% |