Indian Debt Market Summary

  • The interbank call money rate ended at 6.50% on 28th December as against 6.25% on 27th
  • Gilts ended sharply lower on 28th December as concerns over fiscal deficit and higher state borrowing expectations dented sentiment.
  • Profit sales ahead of the end of the quarter also weighed on prices.
  • Overnight fall in crude oil prices gave bonds some support intraday.
  • The yield of the 10 year benchmark 7.17% 2028 paper ended at 7.39% on 28th December as against 7.28% on 27th Decembe

Debt Market Watch Updates

Debt Watch28 DecWeek AgoMonth AgoYear Ago
Call Rate6.50%6.25%6.30%5.95%
10 Yr Gilt7.39%7.28%7.64%7.40%
1-mth CP rate7.16%7.16%7.70%6.85%
3-mth CP rate7.33%7.40%7.80%6.97%
6-mth CP rate8.25%8.50%9.04%7.165%
1 yr CP rate8.90%9.00%9.17%7.80%
1-mth CD rate6.95%6.95%6.75%6.85%
3-mth CD rate7.00%7.05%7.22%6.38%
6-mth CD rate7.65%7.86%8.10%7.65%
1 yr CD rate7.93%8.12%8.30%7.00%
Key announcements in the monthRelease Date
US ADP Report, DecemberJanuary 3
US Nonfarm Payrolls, DecemberJanuary 4
Eurozone Consumer Prices, NovemberJanuary 4

Auctions/ Money market operations

DateDescriptionAmount (Rs Cr)
December 28G-sec auction12,000 (Notified)
December 27Total repo1,96,675 (outstanding)
December 27Total reverse repo28,825 (outstanding)
December 27Marginal Standing Facility710
December 27GOI Surplus Cash Balance with RBI82,695
Yield (%)G-SecAAAAA+AAAA-A+
6 Month6.867.908.078.328.468.72
1 Year6.838.108.338.628.779.01
3 Year7.088.248.478.839.119.40
5 Year7.228.268.498.859.149.53
10 Year7.398.398.759.149.609.94

G-sec and corporate bonds data as of Dec 28

6 month G-sec: 182 day T-Bill rate; 1 year G-Sec: 6.65% CGL 2020; 3 year G-Sec: 8.79% CGL 2021; 5 year G-Sec: 7.68% CGL 2023; 10 year G-Sec: 7.17% GS 2028

Last Updated: 31st December 2018

Next Update: 15th January 2019

Update Frequency: Once Every Fortnight