Indian Capital Markets

Visit GalaTime

Readings: India s swaps, Gold & oil, Central bankers

Posted on June 26, 2008

Bloomberg: Merrill Says India s Swaps Signal More Rate IncreasesTwo-year swap rates in the past week climbed the most since the derivatives started trading in 1999, signaling that Reserve Bank of India Governor Yaga Venugopal Reddy may raise repurchase rates to the highest since 2001.Two-year swap rates surged 1.3 percentage points in the week through yesterday to 9.86 percent, while contracts for five years climbed 1.2 percentage points to 9.9 percent.The five-year swap rate is 1.45 percentage points above the central bank rate, compared with a median of 23 basis points over the past four y...

Original article link


india