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Monday, October 05, 2015

Bond yield eases

10-year G-sec Paper yield closes at 7.51% 

The yield on 10-year benchmark federal paper, 7.72% GS 2025, eased by 05 basis point (bps) to 7.51% compared with 7.56% at close in the previous trading session. The total trading volume on central bank's gilts trading platform stood at Rs 54,295 crore. 

The bond yield eased amid speculation demand for emerging-market assets will be sustained after weaker-than-expected U.S. jobs data reduced odds the Federal Reserve will increase interest rates this year. 

Ten-year bonds completed their biggest weekly gain since June on 01 October, with the yield slumping 15 basis points, after the RBI surprised investors with a larger-than-estimated interest-rate cut and said the $30 billion limit on overseas ownership of sovereign bonds will be raised. Foreign holdings of local corporate and government securities rose 6.76 billion rupees ($103.5 million) last week, data from the National Securities Depository show. 

The weighted average rate in the overnight call money increased to 6.62% compared with 5.55% in previous session. The call money rate hovered in the range of 5.25% to 6.90% with the volume of Rs 13,273.46 crore. 
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