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Friday, March 21, 2014

Evening Bells: Bond yield eases by 02 bps

10-year G-sec Paper yield closes at 8.80% 

The yield on 10-year benchmark federal paper, 8.83% GS 2023, decreased 02 basis points to end at 8.80% compared to 8.82% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 14130 crore. 

Bond yield eased after the RBI governor said that the central bank was not yet targeting inflation. Also the appreciation in Rupee helped yield ease. 

The weighted average rate in the overnight call money decreased to 8.87% compared to 8.93% in the previous session. The call money rate hovered in the range of 8.00% to 9.00% with the volume of Rs 29474.55 crore. 

Fourteen State Governments have offered to sell 4/10 year securities by way of auction for an aggregate amount of Rs 5665 crore on 25 March 2014. Andhra Pradesh & Tamil Nadu will have option to retain additional amounts of Rs 250 crore and Rs 300 crore respectively over the notified amount. Gujarat will re-issue 4 yr 9.60% Guj SDL 2018. 

The Reserve Bank of India has announced the auction of 91-days Government of India Treasury Bills for notified amount of Rs 8000 crore and the auction of 182-days Government of India Treasury Bills for notified amount of Rs 6000 crore. The auctions will be conducted on 26 March 2014.
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