India's call rate closed at 10.15% - ICICI Bank : Treasury Research

Indian Government bonds ended slightly weaker today amidst weak demand for dated securities in today's auction worth INR 150 bn, with devolvement to the tune of INR 17.3 bn. The auction cut-off yield on the 8.20% bond due 2025 (INR 60 bn) came in higher at 8.86% vs. consensus of 8.80%. However, losses were pared after the RBI bought back dated securities worth INR 62.32 bn (against notified INR 80 bn). Going ahead, markets will closely watch India's FY2014 Q1 GDP print scheduled to be released later next week for further cues. The yield on the benchmark 7.16% bond due 2023 ended the day at 8.26% as against yesterday's close of 8.23%.

India's call rate closed at 10.15%, as against yesterday's close of 10.20%. The RBI injected INR 366.9 bn (gross) into the banking system today, as against INR 385.0 bn (gross) yesterday.

US Treasuries are trading little lower today as positive US manufacturing data prints weighed on the Treasuries. Meanwhile, markets await US new home sales data print due later today for further cues. The 10-year yield is currently trading at 2.91% as against yesterday's close of 2.88%. (17:00 IST)

Source : Equity Bulls

Keywords