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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
INDIA
Bonds fell yesterday, snapping a five day winning streak, after the RBI announced it would drain INR 500bn of liquidity from the system via 7-day variable rate reverse repos, the operation is in addition to the INR 3.5tn 14-day reverse repos. This is the first 7-day reverse repo operation in around 18 months and is seen as the first step in normalising monetary policy by some participants and could indicate concerns from the RBI over financial stability despite assurances from RBI Governor Das that the Central Bank were not close to adjusting policy settings. Markets look ahead to state debt auctions later today.
- Fig.1: Bloomberg India Liquidity Index
Lower number = more liquiditySource: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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