11.00 10 · data contained in this newsletter. Any alteration, transmission, photocopied...
Transcript of 11.00 10 · data contained in this newsletter. Any alteration, transmission, photocopied...
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August 17th to 24th, 2013
Market Developments
Weekly Money Market Snapshot
Source: RBI
10.00
10.05
10.10
10.15
10.20
10.25
10.30
5.005.506.006.507.007.508.008.509.009.50
10.0010.5011.00
12-Aug-13 13-Aug-13 14-Aug-13 19-Aug-13 20-Aug-13 21-Aug-13 22-Aug-13
%%
Repo - LAF Reverse Repo - LAF CBLO - Overnight Market Repo - Overnight
Cash Reserves Position of Scheduled Commercial Banks
Cash balances as on Amount in Rs. Cr
19/08/13 319,515
21/08/13 299,470
% Change -6.27%
Source : RBI ,latest data available till 21/08/2013 as on 26/08/2013
Movement of International Overnight Rate Benchmarks
Interbank rates
As on 16/08/13
As on 23/08/13
% Change
MIBOR 10.3391 10.3694 0.29%
GBP LIBOR 0.4781 0.4781 -
Yen Libor 0.0814 0.0814 -
USD LIBOR 0.1176 0.1168 -0.68% Source : Bloomberg
Week Ending Parameters CBLO (overnight) Market Repo (Overnight)
Cumulative Liquidity Adjustment Facility
(in Rs. Crs) Repo Reverse Repo
16/08/13 Cumulative Amount 259,545 64,538 154,684 207
ADT 51,909 21,513 38,671 52
23/08/13 Cumulative Amount 359,868 98,136 154,380 180
ADT 59,978 24,534 38,595 60
% Change 38.65% 52.06% -0.20% -13.04% ADT: Average Daily Turnover Source : RBI
Aug 17-24, 2013
• RBI sets higher-than-expected cut-off yields on short-end bonds…. more
Banks to get one-time relief on bond losses….more
RBI devolves 2020, 2025 and 2042 bonds….more
Bond yields off highs as rupee stabilises….more
AMCs can get membership of bourses to trade in debt segment….more
Bonds give banks a breather RBI steps trigger rally in prices….more
Offshore bonds for NRIs still an option; sovereign bonds not needed now….more
Bonds post biggest weekly gain since mid-January 2009….more
http://economictimes.indiatimes.com/markets/bonds/rbi-sets-higher-than-expected-cut-off-yields-on-short-end-bonds/articleshow/22001823.cmshttp://economictimes.indiatimes.com/markets/bonds/banks-to-get-one-time-relief-on-bond-losses/articleshow/21946615.cmshttp://economictimes.indiatimes.com/markets/bonds/rbi-devolves-2020-2025-and-2042-bonds-dealers/articleshow/22002187.cmshttp://economictimes.indiatimes.com/markets/bonds/bond-yields-off-highs-as-rupee-stabilises/articleshow/22000623.cmshttp://www.indiainfoline.com/Markets/News/AMCs-can-get-membership-of-bourses-to-trade-in-debt-segment/5762088178http://www.telegraphindia.com/1130822/jsp/business/story_17258095.jsphttp://economictimes.indiatimes.com/markets/bonds/offshore-bonds-for-nris-still-an-option-sovereign-bonds-not-needed-now-official/articleshow/21936670.cmshttp://economictimes.indiatimes.com/markets/bonds/bonds-post-biggest-weekly-gain-since-mid-january-2009/articleshow/22004677.cms
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Turnover : Corporate Bonds , Certificate of Deposits & Commercial Paper
Week Ending on CB’s* CD’s CP’s Total
(Amt in Crs) Parameters No. of Trades
Value No. of Trades
Value No. of Trades
Value No. of Trades
Value
16/08/13
Cumulative 1,055 11,783 401 13,887 116 6,139 1,572 31,809
ADT 264 2,946 100 3,472 29 1,535 393 7,953
23/08/13 Cumulative 1,146 15,865 497 17,316 128 5,745 1,771 38,926
ADT 287 3,966 124 4,329 32 1,436 443 9,731
% Change 8.63% 34.64% 23.94% 24.69% 10.34% -6.42% 12.66% 22.37%
*CB`s data available till 22/08/13 as on 24/08/13 Source : FIMMDA & SEBI
Source: CCIL
Top 5 traded Corporate Bonds for the week ending 23rd August, 2013
Source: FIMMDA
10.87
9.63
10.43
10.98
10.75
8.00
9.00
10.00
11.00
12.00
13.00
0100200300400500600700800
8.84% REC 2014 8.82% REC 2023 8.65% BPCL 2017 9.65% HDFC 2014 8.14% IOCL 2018
Rs.
Crs
.
Value (in Rs. Crs) Weighted Average Yield
%
Top 5 traded Government Securities (GS) for the week ending 23rd August, 2013
8.65
9.06 9.059.13 9.12
8.008.108.208.308.408.508.608.708.808.909.009.109.20
05000
100001500020000250003000035000400004500050000
7.16% G.S 2023 8.20% G.S 2025 8.33% G.S 2026 7.28% G.S 2019 8.12% G.S 2020
Rs. C
rs.
Value (in Rs. Crs) Weighted Average Yield
%
Note: REC: Rural Electrification Corporation Limited; BPCL: Bharat Petroleum Corporation Limited;
HDFC: Housing Development Finance Corporation Limited; IOCL: Indian Oil Corporation Limited
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7
8
9
10
11
12
1M 2M 3M 6M 9M 1Y 2Y 3Y 4Y 5Y 7Y 10Y
23/08/13 16/08/13
Mumbai OIS Benchmark rates
%
8.5
9
9.5
10
10.5
11
11.5
12
12.5
3M 6M 1Y 2Y 3Y 4Y 5Y 6Y 7Y 8Y 9Y 10Y15Y
%
23/08/13 16/08/13
Corporate Bonds (Composite)
7
7.5
8
8.5
9
9.5
10
10.5
11
11.5
3M
6M 2Y
3Y
4Y
5Y
6Y
7Y
8Y
9Y
10
Y
11
Y
12
Y
13
Y
17
Y
19
Y
22
Y
28
Y
29
Y
%
23/08/13 16/08/13
Government Yields
8
8.5
9
9.5
10
10.5
11
11.5
12
1M 3M 6M 9M 1Y
%
23/08/13 16/08/13
Certificate of Deposits
Benchmark Rates: A week - on - week comparison
Source: Bloomberg
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Aug 17-24, 2013
10
10.5
11
11.5
12
12.5
13
13.5
14
1M
2M
3M
4M
5M
6M
7M
8M
9M
10
M
11
M 1Y
23/08/13 16/08/13
Commercial Papers
%