The 10-year Indian government bond yield decreases -3.30% to 5.821% from 6.013% in the week gone by. US 10 year benchmark increases to -26.88% as compared to 0.893% in the previous week.
After a vehement shock by the Covid-19 pandemic, the government of India has taken the several steps to provide relief to the farm sector. The Cabinet Committee on Economic Affairs (CCEA) approved an increase in MSP for all mandated kharif crops, for the 2020-21 marketing season.
In another development, Sebi is considering an unprecedented one-time listing window for existing unlisted NCDs to ease stress at various mutual funds. Meanwhile, India’s fiscal deficit widened to 4.59% of gross domestic product (GDP) for the previous fiscal, overshooting the government’s revised target of 3.8%.
Globally, The European Central Bank has increased the size of its emergency asset purchase programme and maintained its commitment to ease policy stance further if needed, as the euro area faces its worst recession in decades due to the impact of the corona virus, or Covid-19, pandemic. The central bank left its key interest rates unchanged as expected.
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FII/FPI IN DEBT MARKET
|S&P BSE SENSEX||34287.24||32424.1||5.75|
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|Policy Repo Rate||4.00%|
|Reverse Repo Rate||3.35%|
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|Foreign Exchange Reserves (29 May. 2020)||$493.48 b||$490.0 b|
|WPI Inflation YoY (Apr)||0.0%||1.00%|
|Inflation Rate YoY (Apr)||5.68%||5.91%|
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|10 yr bond yield||5.821%||6.013%|
|3yr bond yield||4.569%||4.579%|
|1yr bond yield||3.790%||3.62%|
|US 10 yr benchmark yield||0.893%||0.653%|
|07.37 GS 2023||16/04/2023||4.6100%||4.5800%|
|07.32 GS 2024||28/01/2024||5.0100%||4.9700%|
|07.17 GS 2028||08/01/2028||6.0900%||6.0700%|
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