RBI keeps repo rate unchanged at 4%, scope for a rate cut later
Governor Das said the cumulative 250 bps cut in the policy rate since 2019had seen loan rates trending down, particularly since the pandemic.
FPIs remain net sellers of Indian debt for fifth straight month
With the onslaught of the Covid-19 crisis, March has been the worst month this year as far as FPI outflows from debt is concerned with foreign investors pulling out over $8 billion from the bond market.
New 10-year benchmark bonds to be auctioned on Friday
The new benchmark bonds auction comes just two-and-a-half months after the current benchmark bonds were introduced in May.
Surplus liquidity, pushes risk averse banks towards government bonds; investment soars 19% this year
Scheduled commercial banks’ investment in central and state government securities have increased by over 19% as on July 3 compared to last year, led by weak credit growth and surplus liquidity.
Spreads on long-tenor State Development Loans fall by 18 basis points
Rajasthan borrowed 30-year and 35-year funds at 6.55%, which is where the 10-year SDLs were auctioned last week.
FPIs continue to remain net sellers of Indian debt
Except February, all other months in the first half of calendar year 2020 have witnessed net FPI outflows from the debt market.
Private placement of corporate bonds continues to see traction in June
As a result, bond issuances during the first quarter of FY2021 stood at Rs 2.09 lakh crore, having risen over 28% compared to the same period last year.
IRFC, BPCL cumulatively raise Rs 5,000 crore via corporate bonds
IRFC raised Rs 3,000 crore via 15-year bonds at 6.73% on Thursday.
More RBI measures needed to sustain yields at current levels: MS Gopikrishnan, ex-head of financial markets, Standard Chartered Bank
India’s headline reserves have increased by about $48 billion since January; adjusting for the rise in gold value, the reserve increase is about $43 billion.
Corp bond issuance steady due to RBI’s liquidity operations
Experts say that the month of March generally witnesses huge volumes in issuances but the trend changed this time due to the Covid-19 crisis.
Bond Business: Yields on NBFC, HFC papers fall, but spreads at high levels
According to information provided by dealers, HDFC recently raised Rs 4,000 crore via 10-year paper at 7.25%.
Spreads on foreign currency bonds slim to pre-Covid levels
Dollar bonds of SBI that were trading at a spread of 390 bps over corresponding benchmark in mid-April were recently trading at a spread of 260 bps.
UPL Corp raises $500 million via bond issue, bankers indicate
Indian firms and banks raised a whopping $7-billion-plus from the foreign currency (FCY) bond market this year, according to market sources.
First time bond issuers gained from govt stimulus: Anshu Kapoor, head, Edelweiss Private Wealth Management
Borrowers who have not been able to tap the bond market via normal issuances, have been resorting to different mechanisms like down-selling of assets and securitising loan pools, says Anshu Kapoor, head of Edelweiss Private W
Bond yields decline by 2 bps despite Moody’s downgrade of India’s ratings
Over the last few weeks, market participants have been anticipating the central bank to announce measures to absorb the additional supply of government bonds.
FPIs sell over $2.6 billion of Indian bonds in May
India witnessed the highest FPI outflow from bonds among Asian peers this year followed by Indonesia that saw an outflow of $7.9 billion.
Bond market shrugs-off 40 repo rate cut by RBI
The yield on the old benchmark bonds—notes maturing in 2029—closed 7 basis points down at 5.96%.
FPIs get more time to invest under voluntary retention route
The RBI had earlier said that successful allottees will have to invest at least 75% of their CPS within three months from the date of allotment.
Covid fallout: RBI sees GDP contract, cuts repo rate by 40 basis points to 4%
Reserve Bank of India (RBI) governor Shaktikanta Das on Friday said the economy would likely contract in the first half of 2020-21 and moved to cut the repo and reverse repo rates by 40 basis points each to 4% and 3.35% respe
Bond markets cheer G-sec auction post additional borrowing announcement
The first central government securities auction after the announcement of the additional borrowing by the government saw decent response from the bond market on Friday with the government managing to borrow Rs 4,000 crore mor
Bond yields spike on extra govt mop-up
Bonds sold off on Monday with the benchmark yield spiking a sharp 20 basis points to 6.17% after the government on Friday said it would tap the markets for an additional Rs 4.2 lakh crore this fiscal.
Coupon on new benchmark bonds settles at 5.79%
Market participants have been anticipating the coupon on the new 10-year bonds to settle at levels close to 5.85%, around 15-18 basis points lower than the yield on the current benchmark bonds.
New benchmark bonds likely to see coupon below 6%, say experts
A Barclays report estimates that the central government’s revenue benefit from the additional hikes in fuel taxes could be as much as Rs 1.4 lakh crore on an annual basis.
REC evaluating US dollar bond market post Covid-19 led halt
Market experts indicated that in current times, raising funds within the Reserve Bank of India’s (RBI) prescribed all-in-cost cap of Libor plus 450 basis points for external commercial borrowing could be a challenge as fore
Covid-19 crisis: REC evaluating dollar bond market for fundraising
Indian firms and banks raised a whopping $7-billion-plus from the foreign currency (FCY) bond market this year, according to market sources.
TLTRO 2.0 needs to be open-ended and on-tap with change in structure
“Keeping it open-ended and on-tap would be a better idea than conducting the operation on a pre-decided date. Banks should get enough leeway in deciding how much they want to borrow and when to borrow,” said an expert.
Risk-averse banks stay shy of TLTRO 2.0
NBFCs have been asking for a bail-out in the form of a government credit guarantee or a TARP –like structure.
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