Fixed Income Markets Snapshots For The Week
- Gsec yields climbed as INR continued its downward trend
- Markets to play for rate hike in RBI October policy review
- Advance tax outflows to be high, hitting system liquidity
- Liquidity turned positive on government spending
Credit Spreads Snapshots For The Week
- 10 year AAA credit spreads trended down last week
- 12 months CP and CD yields trended upwards.
- Bajaj Finance, rated AAA, issued Rs 40.5 billion, 3 year bond at 8.65%, 75 bps spreads
- Sikka Ports and Terminal Ltd, rated AAA, issued Rs 25 billion, 3 year bond at 10.25%, 235bps spreads
- DHFL rated AAA, issued Rs 10 billion,4 years bond at 9.24%, 158 bps spreads.
- FII debt utilization status stood at 70.93% of total limits, down 13 bps week on week as FIIs sold G-secs.
G-sec Curve Spread Snapshots For The Week
- 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 were mixed.
- Spread between 10-year SDL with 10-year G-sec fell by 3 bps and came in at 63 bps.