One-yr, 10-yr yield curve briefly inverts
时间:2024-06-28 23:10:53 阅读(143)
India’s 1-year government debt yield rose higher than that of the 10-year note on Wednesday, following higher than expected cut-offs of the Reserve Bank of India’s (RBI) treasury bills sale.
The RBI sold 364-day notes at 7.48% yield, the highest since October 2018. The cut-off at the 1-year T-bill at auction was higher than the 10-year bond yield. The 7.26%, 2032 bond’s highest yield on Wednesday was 7.47%. The 1-year note last traded above the 10-year bond in May 2015.
Also read: NCDEX to relaunch groundnut futures trade soon
“At any rate, this theory may not be relevant in India as the curve here refers to the sovereign yields and not the corporate bond yields though the latter are linked to the former. But the secondary market is relatively thin and may not reflect investment intentions of industry,” Sabnavis said.
“The market believes now that the RBI will also increase rates now. Data on inflation to be released on Monday will be crucial and markets will remain edgy till then,” added Sabnavis.
猜你喜欢
- Rupee likely to appreciate on weak dollar; USDINR pair may trade sideways in this range
- Rupee gains on India’s inclusion in JPM bond index
- Crude oil price set for second weekly drop as recession fears, rates cloud outlook
- Crude oil prices extend losses after Fed interest rate rise
- Crude oil prices recover on short-covering, U
- IT companies expected to report soft Q3 as higher furloughs to weigh on revenue growth
- iPhone 15 selling at lowest price ever ahead of New Year 2024; know how deal on latest Apple iPhone works
- Rupee drops, but confidence on RBI largely caps losses
- Crude oil prices tick up as markets look to key Chinese economic data