Fixed Income Markets Snapshots For The Week
- Gsec yields fell last week on OMO and RBI Minutes
- Government bond and SDL auctions are going through smoothly
- Government is spending heavily and RBI is auctioning CMBs to cover WMA
- Advance tax outflows ssen at over Rs 800 billion
Credit Spreads Snapshots For The Week
- Flat AAA credit curve
- 3, 5 and 10 year AAA yields decline
- 12 months CP, CD yields fall
- FII debt utilization status at 70.38% of total limits, down 64 bps week on week on FII selling of INRBONDS
G-sec Curve Spread Snapshots For The Week
- The yield curve has flattened.
- Bond yields fell sharply after RBI minutes signaled that central bank will rely on data for future rate hike decisions
- 5-year G-sec yields is still trading higher than 10-year G-sec yields on segmentation.
- Extreme long-end bond yields largely remain untraded.
- Spread between 10-year SDL with 10-year G-sec fell sharply by 11 bps and came in at 54 bps