- The benchmark 10-year G-Sec bond yield hardened further by 4ps on a weekly basis to 8.01%. Concerns over high WPI inflation and next fiscal year’s borrowing plan continue to influence G-Sec bond yields.
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- All Scheduled Banks’ investments (at book value) in the central and state government securities stood at Rs14,131bn as on Feb 26, 2010 vis-à-vis Rs12,136bn in the corresponding period of the previous year.
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- Food inflation slipped to 17.81% for the week ended Feb 27, 2010 vis-à-vis 17.87% in the previous week. Although the decrease was minimal, prices of essential food items remain still expensive.
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- GOI would provide Rs95bn for recapitalisation of public sector banks in Q1FY11, while about Rs70bn would be infused during the remaining part of FY11.
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- China’s exports gained 46% yoy while its inflation reached a 16-month high of 2.7% in Feb ‘10, indicating a case for the government to pare back stimulus measures and hike rates relatively soon.
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- Britain’s trade deficit widened unexpectedly in Jan ‘10 to US$12bn (£7.99bn) on account of a fall in exports of oil and chemicals and a rise in imports of semi-manufactured goods.
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