Weekly Debt Market Review 13th-20th December 2019

KEY HIGHLIGHTS

The 10-year government bond yield decreases 2.68% to 6.60 from 6.78 in the previous week. US 10 year benchmark increased 4.18% to 1.919 as compared to 1.842 in the previous week. The g-sec yields ended lower this week.

Indian key benchmark Index Nifty rose to fresh record highs on 4 consecutive days, the index this week ended on a positive note with Nifty gaining +1.50% and BSE Sensex +1.6% and finally settled at 12271 and 41681.54 respectively. Currently, very few stocks have made 52-week highs, which is one of the least in last few years, when indices sit at new highs.In the current trading week among the major sectors, FMCG-consumer has outperformed with 3.3%, followed by Metals and Mining and Realty with 3.02% and 2.12% respectively.Going ahead in the forthcoming week market is likely to remain range bound in the holiday-shortened week and domestic political development would be the driving force.

In a surprise move, RBI announced special open market operation to buy bonds worth Rs 10,000 crore and sell bonds of similar worth simultaneously. This step was taken specifically to lower longer-term yields, as they have consistently been on an up-move since RBI decided to keep the repo rate unchanged and slashed its forecast for economic growth rate to a decade low. Bond market enthusiasts and PSU banks will cheer this move, as the yield curve had steepened sharply despite RBI’s constant efforts to lower rates since the start of the year.

Globally, In USA Conference Board said its leading economic index was unchanged in November after dipping by 0.2 percent in both September and October. U.K. gross domestic product grew 0.4 percent sequentially, slightly faster than the 0.3 percent growth estimated initially and in contrast to the 0.2 percent decline seen in the second quarter. China one-year loan prime rate was retained at 4.15 % and the five-year loan prime rate at 4.80%.

FII/FPI IN DEBT MARKET

GLOBAL INDICES

POLICY RATES

EXCHANGE RATES

MACRO DATA

DOMESTIC INDICATORS

G-SEC YIELDS

COMMODITY

 DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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