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The draw down of government surplus of over Rs 1.8 trillion in just a fortnight in April is unprecedented and could be the key factor in the shortage of cash in the country. The sh[...]
In the year 2006 and 2007, the US treasury yield curve was extremely flat and the result was a crash in financial markets due to a sub prime mortgage bubble burst that led to reces[...]
The long end of the G-sec curve spread with the 10-year G-sec largely rose by over 10bps on weekly basis. The short end of the curve spread with 10-year G-sec was mixed,  (Table 1)[...]
Mutual Fund’s exposure to G-secs was at Rs 860 billion as on March 2018, 23.77% lower against April 2017 levels. NBFC bonds exposure has risen 18.64% to Rs 1184 billion in FY18.CD [...]
RBI in its April 2018 annual policy, painted a rosy growth picture for the Indian Economy and lowered its inflation forecast. Read our analysis on RBI Policy “RBI Says Buy In[...]
Week ahead, the US will publish retail trade, industrial production and housing stats. Market participants will also be watching for UK inflation, China Q1 GDP growth, Japan inflat[...]
The government issued a new 5 year bond for Rs 30 billion on Friday the 13th of April. The cut off for the bond came in at 7.37% and bids were 4x the auction size, indicating good [...]
USD ended the week lower amid trade worries, geopolitical tension and the release of weak economic data last week. However, some respite for USD came in after the release of minute[...]
RBI lowered its inflation forecast for fiscal 2018-19 in its April 2018 policy review even as it kept its economic growth forecast at higher levels than last fiscal year. Read our [...]
US 10-year benchmark bond yields fell by 2 bps after President Donald Trump in a tweet warned Russia to get ready for missile attacks in Syria, which the Russian military has vowed[...]
Government surplus cash fell from Rs 1.75 trillion to Rs 897 billion since 30th March 2018. The surge in government spending eased system liquidity that was in deep deficit of clos[...]
The 10 year G-sec yield went down to below 7.15% levels from 7.40% levels post April RBI Policy and has climbed all the way up to 7.42% levels as of 11th April 2018. The climb in y[...]
3-year credit spreads were largely flat while 5 & 10-year credit spreads widened post RBI policy last week. Three-year AAA corporate bonds were trading at levels of 7.52% as of[...]
The 10 year government bond, the 7.17% 2028 bond, has seen yields fall by 55 bps from highs seen in February 2018. Yields have fallen on the back of the government announcing a ben[...]
The 10 year government bond, the 7.17% 2028 bond, saw a cut off of 7.15% in the government bond auction on Friday, the 6th of April. The bond yield has fallen by  60bps over the la[...]
The Indian Rupee appreciated by 0.31% against the USD after RBI lowered its inflation forecast and revised upwards its growth outlook, in its recently concluded policy meet. (Read [...]
Domestic stock markets edged higher during the week after the RBI lowered inflation forecast for year ending 31 March 2019 amid higher growth projection as part of its monetary pol[...]
RBI Says Buy India Market Outlook   10 year Gsec yield to trend down to 7% Sensex to gain sharply INR to strengthen Credit spreads to fall sharply for lower rated issuers RBI kept [...]
US 10-year benchmark bond yields rose by 3 bps week on week. 10 year UST yields rose on easing risk aversion,  as fears over a growing trade war between the United States and China[...]
The long end of the G-sec curve spread with the 10-year G-sec fell by 22 bps on weekly basis. The short end of the curve spread with 10-year G-sec rose by 3-6 bps on weekly basis, [...]