Free Trial
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
Yields are lower in early trade, extending their move from Friday after the RBI cancelled yet another 10-eyar debt sale with cut off yields at unmanageable levels for the bank. The bank sold INR 120bn against a planned INR 260bn as a result of the cancellation, this is the second time the RBI has cancelled an auction due to the demand for high yields.
- Elsewhere the RBI will conduct a conversion offer today for INR 200bn today, converting shorter dated paper into longer.
- Fig.1: RBI Conversion Offer Details
Source: RBI
- The bank will also hold the first SLTRO auction for INR 100bn today, the Special Long-Term Repo Operations (SLTRO) was announced earlier in May and targets liquidity for small banks, the scheme has a maturity of 3-years.
- Some focus on state-run banks after Cairn Energy takes the state-owned carrier Air India to a US court to seek payment of an arbitration award from the South Asian nation as part of a long-running tax dispute.
- Meanwhile April wholesale price data will be released at 0730BST/1200IST, the headline figure is expected to rise to 9.35% from 7.39% previously.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok