Fixed Income Markets Snapshots For The Week
- INR fall deepens bond market woes
- Negative BOP is liquidity negative
- US jobs data for August 2018 to further hit bond market sentiments
- Liquidity in positive territory on government spending
Credit Spreads Snapshots For The Week
- AAA credit spreads rose last week
- 12 months CP and CD yields trended upwards.
- HDB Financial Services(HDFC company), rated AAA,issued Rs 10 billion,3 year bond at 8.82%, 72 bps spreads
- India Grid Trust Ltd, rated AAA, issued Rs 2.5 billion, 10 year bond at 8.6%, 67 bps spreads
- L&T Finance Ltd, rated AAA, issued Rs 5 billion,2 year bond at 8.62%, 108 bps spreads.
- FII debt utilization status stood at 70.15% of total limits, down 78 bps week on week as FIIs sold G-secs and corporate bonds.
G-sec Curve Spread Snapshots For The Week
- The 10-year G-sec yield rose to 4 year highs
- The yield curve flattened at the long end of the curve.
- 5-year G-sec yield is trading higher than 10-year G-sec yield.
- Off the run bond spreads with the 10-year G-sec rose.
- Spread between 10-year SDL with 10-year G-sec fell by 2 bps and came in at 61 bps.