Weekly Market Highlights:
- 10 year 2034 Gsec yields closed at 6.93%, down by 1 bps on weekly basis.
- Weekly Gsec auction cut-off for the 2027 and 2054 stood at 6.8082% and 7.09% respectively, while the cut-off for the SGrB for 2034 was 6.9%.
- 3M and 6M T-bill auction data yields were at 6.67% and 6.79% respectively, down by 4 bps on a weekly basis.
- India’s fiscal deficit narrowed to 8.1% for the full year v/s 25.3% in the previous year.
- Domestic market liquidity deficit stood at Rs.196.5 billion.
- The INR Bonds high yield Index stood at 9.744% down 3 bps biweekly basis.
- The Bank of England cut its rates for the first time since 2020 to 5% from a 16 year high of 5.25%.
- The JPY strengthened with unexpected hawkish policy announcements by the BoJ.
- US PMI came in at an 8 month low of 46.8, job growth reduced 114,000 in July from 179,000 in June and unemployment rate rose to 4.3%.
- The US 10-year fell by 40 bps to 3.79% as recession fear spikes weak economic data.
Market Data | |||
Particulars | 2/8/2024 | 26/7/2024 | Change |
10 Yr Benchmark Gsec (%) | 6.93% | 6.94% | -1 bps |
Banking Liquidity (in Rs Billion) | -196.5 | -85.92 | -128.70% |
5 Yr OIS (%) | 6.09% | 6.26% | -18 bps |
1 Yr OIS (%) | 6.54% | 6.70% | -16 bps |
INRBonds Retail High Yield Index | 9.74% | 9.77% | -3 bps |
Nifty | 24,718 | 24,834 | -0.47% |
10 Yr SDL | 7.28% | 7.36% | -8 bps |
91 Day T-Bill (%) | 6.67% | 6.71% | -4 bps |
182 Day T-Bill (%) | 6.79% | 6.82% | -3.5 bps |
10 Yr US Treasury Yield (%) | 3.79% | 4.19% | -40.2 bps |
US Junk Bond Yield (%) | 7.32% | 7.32% | 0 bps |
Brent Crude Oil (In USD per Barrel) | 77.57 | 81.3 | -4.59% |
Primary & Secondary Corporate Bonds Data | |||
Top 5 Secondary Retail Trades | Maturity | Yield | - |
8.25% Muthoot Fincorp Ltd | 3/4/2025 | 12.00% | |
8.1965% HDB Financial Services Ltd | 30/5/2025 | 8.15% | |
9.6% Credit Access Grameen Ltd | 23/11/2025 | 9.45% | |
10.20% Krazybee Services Pvt Ltd | 19/12/2025 | 12.35% | |
9.7% Credit Access Grameen Ltd | 7/9/2028 | 9.91% | |
Currency Market Data | |||
Particulars | 2/8/2024 | 26/7/2024 | Change |
USD/INR | 83.791 | 83.724 | 0.08% |
DXY | 103.22 | 104.33 | -1.06% |
USD/ Brazil Real | 5.74 | 5.69 | 0.88% |
EUR/ USD | 1.091 | 1.0856 | 0.50% |
USD/CNY | 7.1603 | 7.2511 | -1.25% |
USD/JPY | 146.54 | 153.77 | -4.70% |
USD/ Russian Ruble | 85.5017 | 86.1075 | -0.70% |