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Monday, October 13, 2014

Bond yields eases by 04 bps

10-year G-sec Paper yield closes at 8.42% 

The yield on 10-year benchmark federal paper, 8.40% GS 2024, eased by 04 basis points to close at 8.42% compared to 8.46% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood Rs 32,580 crore. 

Bond yield eased on expectations that CPI based inflation may ease in September. Moreover, the OMO sales auction for notified amount of Rs 10,000 crore came in line with market expectations. 

The weighted average rate in the overnight call money increased to 7.90% compared to 5.86% in previous session. The call money rate hovered in the range of 7.50% to 8.10% with the volume of Rs 17,612.64 crore. 

The RBI sold securities amounting to Rs 6,582 crore in OMO sales held today, against notified amount of Rs 10,000 crore. The total offerings by market participants were placed at Rs 45,604 crore. The cut-off yield for the securities sold was set at 8.64% for 8.79% GOI 2021, 8.69% for 8.33% GOI 2026 and 8.68% for 8.28% GOI 2027. 

The Overnight Variable Rate Reverse Repo auction held today saw allotment of Rs 14,640 crore, against the notified amount of Rs 20,000 crore. The total offers received amounted to Rs 14,640 crore. The cut off rate was set at 7.99%, while the weighted average rate was at 7.96% 
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