Weekly Market Analysis – Week Ended 22nd March 2013
Weak economic growth and signs of weak global commodity prices will enable RBI to take a more dovish view on rate cuts. The government’s stability has not been threatened as it has enough numbers to survive any no confidence motion. The Finance Minister is optimistic on going ahead with reforms.
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The benchmark ten year bond the 8.15% 2022 bond is trading at levels of 7.96%, up from levels of 7.86% seen a week ago and up from levels of 7.79% seen in February 2013. The bond yield is likely to cross 8% in the coming few days as markets lighten up ahead of the start of the government borrowing for fiscal 2013-14.
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