Bond yields dropped on Tuesday following measures by the central bank and the market regulator to curb speculative trading in foreign exchange derivatives. In a bid to arrest the steep decline of the rupee, which fell to a record low of 61.21 against the dollar on Monday, regulators tightened rules for derivatives trading in the currency market. The Reserve Bank of India banned banks from proprietary trading in domestic currency futures and the exchange-traded options market, while the Securities and Exchange Board of India (SEBI) increased the margin requirement on the domestic dollar-rupee forward trade to 100 percent of the traded amount.
On the global front, US Treasuries prices climbed in Asian trade on buying by bargain-minded investors, helping to bring benchmark yields down from near two-year highs. Brent crude dropped towards $107 a barrel on Tuesday as investors locked in profits after prices climbed to a three-month top in the previous session and as worries about supply for the Middle East eased.
Back home, the yields on 10-year 7.16% - 2013 bonds were trading 6 basis points lower at 7.51% from its previous close of 7.57% on Monday.
The benchmark five-year interest rate swaps were trading 10 basis points higher at 7.54% from its previous close of 7.60% on Monday.
The Reserve Bank of India has announced the auction of 91 and 364 day Government of India Treasury Bills for notified amount of Rs 7,000 crore each. The auction will be conducted on July 10, 2013 using 'Multiple Price Auction' method.
On the global front, US Treasuries prices climbed in Asian trade on buying by bargain-minded investors, helping to bring benchmark yields down from near two-year highs. Brent crude dropped towards $107 a barrel on Tuesday as investors locked in profits after prices climbed to a three-month top in the previous session and as worries about supply for the Middle East eased.
Back home, the yields on 10-year 7.16% - 2013 bonds were trading 6 basis points lower at 7.51% from its previous close of 7.57% on Monday.
The benchmark five-year interest rate swaps were trading 10 basis points higher at 7.54% from its previous close of 7.60% on Monday.
The Reserve Bank of India has announced the auction of 91 and 364 day Government of India Treasury Bills for notified amount of Rs 7,000 crore each. The auction will be conducted on July 10, 2013 using 'Multiple Price Auction' method.
No comments:
Post a Comment