Weekly Market Highlights:
- The 10 year 2034 G-sec yield closed at 6.72% this week vs 6.76% last week.
- The outcome of the RBI MPC meeting will be a key focus, especially as central banks globally have adopted a more dovish stance.
- Foreign portfolio and institutional inflows totaling USD 4.3 billion as of August 2024. Forex reserves have also hit a record high of USD 692 billion.
- 3M and 6M T-bill auction data yields were stable at 6.65% and 6.72% respectively.
- The INR Bonds high yield Index stood at 9.907% down 2 bps fortnightly..
- Government borrowing for the second half of FY25 aligns with the budgeted target of approximately Rs. 6.61 trillion. In the first half, borrowing was estimated at Rs. 7 trillion, with 40% raised through long-term bonds.
- China plans to issue USD 284.43 billion in special sovereign bonds as part of a fiscal stimulus.
Market Data | |||
Particulars | 20/9/2024 | 20/9/2024 | Change |
10 Yr Benchmark Gsec (%) | 6.72% | 6.76% | -4 bps |
Banking Liquidity (in Rs Billion) | 44.34 | 24.82 | 78.65% |
5 Yr OIS (%) | 6.03% | 6.01% | 2 bps |
1 Yr OIS (%) | 6.40% | 6.39% | 1 bps |
INRBonds Retail High Yield Index | 9.91% | 9.92% | -2 bps |
Nifty | 26,179 | 25,791 | 1.50% |
10 Yr SDL | 7.10% | 7.05% | 5 bps |
91 Day T-Bill (%) | 6.65% | 6.65% | 0 bps |
182 Day T-Bill (%) | 6.72% | 6.72% | 0 bps |
10 Yr US Treasury Yield (%) | 3.75% | 3.74% | 1 bps |
US Junk Bond Yield (%) | 6.76% | 6.66% | 10 bps |
Brent Crude Oil (In USD per Barrel) | 71.98 | 73.93 | -2.64% |
Primary & Secondary Corporate Bonds Data | |||
Top 5 Secondary Retail Trades | Maturity | Yield | - |
9.15% Shriram Finance Limited | 28/6/2029 | 9.02% | |
9.50% Hinduja Leyland Finance Limited | 29/11/2029 | 9.85% | |
11.10% Spandana Sphoorty Financial Limited | 24/4/2026 | 11.30% | |
10.30% Indostar Capital Finance Limited | 25/9/2027 | 10.70% | |
10.45% Muthoot Fincorp Limited | 24/12/1932 | 11.26% | |
Currency Market Data | |||
Particulars | 20/9/2024 | 20/9/2024 | Change |
USD/INR | 82.723 | 83.474 | -0.90% |
DXY | 100.42 | 100.74 | -0.32% |
USD/ Brazil Real | 5.3 | 5.38 | -1.49% |
EUR/ USD | 1.1163 | 1.1162 | 0.01% |
USD/CNY | 7.011 | 7.0505 | -0.56% |
USD/JPY | 142.19 | 143.91 | -1.20% |
USD/ Russian Ruble | 94.3107 | 92.3505 | 2.12% |