Fixed Income Markets Snapshots For The Week
- RBI Board Meeting becomes a non event
- G-sec yields fall sharply
- OIS yield curve flattens
- Liquidity deficit increases on rise in credit offtake
Credit Spreads Snapshots For The Week
- 3 years AAA credit spreads were stable last week
- Credit spread curve stayed inverted and has been inverted for a few months
- CD,CP yields were stable but still at higher levels
- LIC Housing Finance Ltd, rated AAA, issued Rs 20 billion, 2 year bond at 9.11%, 163 bps spreads
- Kotak Mahindra Investments Ltd , rated AAA, issued Rs 2 billion, 2 year bond at 9.34%, 201 bps spreads
- Gruh Finance, rated AAA, issued Rs 1 billion, 4 year bond at 9.35%, 179 bps spreads
- FII debt utilization status stood at 62.64% of total limits. FIIs bought Rs 8.15 billion bonds.
G-sec Curve Spread Snapshots For The Week
- The yield curve steepened at the long end of the curve
- 10-year G-sec yields fell sharply
- Off the run bond spreads with the 10-year G-sec largely rose last week.
- Spread between 10-year SDL with 10-year G-sec came in at 75 bps in the SDL auction, down by 7 bps from last week.