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Debt Market - week ended February 05, 2010

India Infoline Research Team / 10:33 , Feb 08, 2010

  • During the week, yields hardened across different tenures. Yield of the benchmark 10-year G-sec increased by 10bps on a weekly basis to 7.67% while the yield of 1-year G-Sec surged by 58bps.
  • Last auction of the FY10 borrowing program of the Government worth Rs80bn was completed on Friday. The cut-off yield of bonds was higher than expected.
  • The food inflation inched-up to 17.6% for the week ended Jan 23 vis-à-vis 17.4% for previous week. Primary articles index was up 14.56% on yoy basis.
  • RBI withdrew the facility of short-term foreign currency borrowings provided to NBFCs and housing finance companies with immediate effect on Feb 03, 2010.
  • The World Bank estimated 6% growth for Indian economy for FY10 and forecasted 7.5% growth for FY11.
  • The Bank of England’s Monetary Policy Committee voted to maintain the official bank rate at 0.5% and its stock of purchases of government and corporate debt to be financed by issuance of central bank reserves at £200bn.
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