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Monday, June 08, 2015

Bond yields rise by 02 bps

New 10-year G-sec Paper yield closes at 7.80% 

The yield on 10-year benchmark federal paper, 8.40% GS 2024, increased by 02 basis points (bps) to close at 8.00% compared with 7.80% close in the previous trading session and the new 10-year benchmark federal paper, 7.72% GS 2025, yield also increased by 02 bps to end at 7.80%, compared with 7.78% close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 17,340 crore. 

Bond yields increased as Rupee depreciated amid global investors sell off in local stocks and bond market. Poor monsoon rainfall and chances of pause in monetary policy raised concerns in the market. On 5th June the bonds completed their biggest weekly loss in more than a year on speculation the central bank won't cut interest rates further as deficient monsoon rains threaten to hurt crop output and stoke inflation. 

The weighted average rate in the overnight call money eased to 7.36% compared with 7.64% in previous session. The call money rate hovered in the range of 5.70% to 8.20% with the volume of Rs 13,416.53 crore. 
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