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Scale Buyer 3Y Midcurve Puts


(U1)‌‌ Moves Back Into The Bull Channel


Expiries for Jul22 NY cut 1000ET (Source DTCC)


Interview With Fed Researcher on R-Star

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Bonds rose for the second day yesterday after the RBI's sale of bills was taken down smoothly, the INR 360bn sale saw cut off yields in line with expectations. The bill sale last week was weak, with cut offs hitting the highest in over a year after higher inflation data.

  • Concerns over an inflation overshoot, given the RBI's indication to let inflation run hot to protect the recovery, a number of corporate issuers have issued floating rate notes. According to data from Bloomberg issuance of floating rate notes has risen 86% Y/Y to a record, even while the broader corporate bond market shrinks slightly.
  • Government data yesterday showed April FDI inflow was up 38% Y/Y at $6.24bn. According to a statement from the Indian Press Information Bureau computer software and hardware industry received about 24% share of the total FDI equity inflow in April followed by services sector at 23% and education at 8%.