DEBT WEEKLY

17th July, 2013

For the Week 17 July 19 July, 2013
th th

Headlines
The Index of Industrial Production (IIP) contracted 1.60% in May 2013 as compared to a growth of 2.50% in May 2012. The cumulative growth during April-May 2013-14 was 0.10% as against 0.60% in April-May 2012-13. Indias exports declined by 4.56% in June 2013 to $23.79 billion from $24.92 billion in June 2012. Imports declined by 0.37% to $36.03 billion from $36.16 billion in June 2012. Provisional annual inflation rate based on all India general CPI (Combined) for June 2013 on point to point basis was 9.87% as compared to 9.31% (final) for May 2013. In its latest update on the World Economic Outlook, IMF scaled down India's economic growth forecast to 5.6% for FY14. It expects Indias growth to rise to 6.3% in FY15. China's exports fell 3.1% in June, while imports dropped 0.7%. The trade surplus was $27.1 billion. Chinas consumer prices rose 2.7% in June, up from 2.1% in May. G-Sec Yield (%)

10 Year G-Sec (8.15%) Benchmark

Key Market Rates

(%) Call Repo CBLO

08/07/2013
6.58 6.38 6.45

12/07/2013
7.14 7.08 6.12

Change (bps)
56.00 70.00 -33.00

Corporate AAA Spread (bps)

Money Market Volumes

Rs (Cr) Call Repo CBLO LAF R Repo LAF Repo

08/07/2013 76321 126961 409191 17265 111380

12/07/2013 103316 201778 409177 11455 258495

Change (%)
35.37% 58.93% 0.00% -33.65% 132.08%

PSU AAA Spread (bps)

Treasury Bill Benchmark (%)

Tenor 7 30 60 90 180 364

08/07/2013 7.1860 7.2738 7.3528 7.4590 7.4845 7.4690

12/07/2013 7.2381 7.2531 7.3413 7.4555 7.4759 7.4927

Change (bps)
5.21 -2.07 -1.15 -0.35 -0.86 2.37

Commercial Paper Benchmark (%)

Tenor 30 60 90 180 364

MoM WPI Inflation (%)

Change (bps) 0.00 4.16 8.31 6.75 7.50 Feb.13 6.84% Mar.13 5.96% Apr.13 4.86% May13 4.70%

08/07/2013 7.8250 8.0625 8.3000 8.5300 8.7500

12/07/2013 7.8250 8.1041 8.3831 8.5975 8.8250

Key Policy Rates (%)

CRR 4.00% SLR 23.0% Bank Rate 8.25% Repo Rate 7.25%

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