Fixed Income Markets Snapshots For The Week
- RBI 19th November 2018 Board Meeting is against the backdrop of Government – RBI tensions.
- G-sec yields fall showing no signs of stress on 19th November meeting
- CPI, IIP data will provide direction to yields this week
- Liquidity deficit increases on rise in festive demand for cash and rise in bank credit.
Credit Spreads Snapshots For The Week
- 3 years AAA credit spreads fell
- Inverted credit spread curve
- CD,CP yields stay at higher levels
- HDB Financial Services, rated AAA,issued Rs 4 billion, 2 year bond at 9.38%, 179 bps spreads
- DHFL, rated AAA, issued Rs 15 billion, 3 year bond at 9.88%, 259 bps spreads
- SBI, rated AAA, issued Rs 50 billion, 10 year bond at 8.90%, 95 bps spreads
- FII debt utilization status stood at 62.20% of total limits. FIIs bought Rs 1.44 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 further
- Off the run bond spreads with the 10-year G-sec were mixed last week.
- Spread between 10-year SDL with 10-year G-sec came in at 79 bps in the SDL auction, up by 1 bps from last week.