Page 8 - Bond Market

SGB issue price fixed at Rs 5,923 per gram, subscription to open on Sept 11

The Reserve Bank of India (RBI) on Friday said the issue price for the next tranche of Sovereign Gold Bond has been fixed at Rs 5,923 per gram and will open for subscription from September 11. "The nominal value of the bond based on the simple average of closing price (for gold of 999 purity)... works out to Rs 5,923 per gram of gold," it said, while announcing the issue price of Sovereign Gold Bond Scheme 2023-24 Series II (second tranche). The government, in consultation with the RBI, has decided to offer a discount of Rs 50 per gram less than the nominal value to investors applying online and making the payment against the application through digital mode. For such investors, the issue price of gold bond will be Rs 5,873 per gram, it said. The issue will be open from September 11-15, according to the statement. The bonds will be sold through banks, Stock Holding Corporation of India Ltd (SHCIL), designated post offices, and recognised stock exchanges -- the NSE and the BSE. Th

US treasury 10-year real yield exceeds 2% for first time since 2009

Benchmark rose as much as 6 basis points to 2%, before easing little under that threshold, extending rise from 1.5% since mid-July. 30-year real yield up 6.6 basis points to 2.14%, new peak since 2011

Bond market sees no end to tumult as Federal Reserve casts a hawkish shadow

That uncertainty, along with an increase in new debt sales as the federal government contends with mounting deficits, has weighed on the bond market

How dizzying bond moves put 4% yield in play to win over investors

Yields for most tenors approached the highest levels seen so far this year, while wagers that the US Federal Reserve (Fed) might cut interest rates this year fizzled

IIFL Finance keen to raise more funds through bond market, says CFO

As on March 31, the company's total borrowing stood at nearly 40 billion rupees ($485.07 million). Its borrowing mix currently comprises 60% from banks, 20% from the bond market

Irdai relaxes norms for surety bonds to expand market for such products

Regulator Irdai on Tuesday said it has relaxed norms for 'surety bonds', a type of insurance policy protecting parties involved in a transaction or contract from potential financial losses due to a breach of contract or other types of non-performance. The changes are aimed at expanding the surety insurance market by increasing the availability of such products. As per a circular issued by the Insurance Regulatory and Development Authority of India (Irdai), the solvency requirement applicable for such products has now been reduced to control the level of 1.5 times from 1.875 times previously prescribed. Further, the prevailing 30 per cent exposure limit applicable on each contract underwritten by an insurer, has also been removed. The regulator had issued 'IRDAI (Surety Insurance Contracts) Guidelines' in January 2022. Irdai said the amendments have been made on the basis of the evaluation of various representations received. The amendments follow the earlier notification removing

Monetary policy: Bond yields soften after RBI hits pause on rate hike

The 10 year g-sec yield is expected to be at 7.0 per cent as against 7.21 per cent currently by end March 2024

Benchmark G-sec yields close lower at FY23 end vis-a-vis Dec 2022

Shields banks from adverse impact from bond portfolio

Centre expected to issue Rs 23,764-crore sovereign green bonds in FY24

Govt is already finalising projects and may issue a few such bonds in H1FY24

Building urban India

Municipal bonds can play an enabling role

G20 push: Over 30 big cities on list to tap municipal bond market

Surat, Vizag may issue bonds soon as Centre renews urban infra focus

HDFC's exit to ease fund-raising conditions for high-rated finance firms

It may also compress the spread for debt instruments floated by HFCs over 10-year govt bonds, subject to demand and supply conditions

UCO Bank raises Rs 500 crore in AT1 bonds at 9.5%, highest rate in FY23

AT1 bonds are a means by which banks augment core equity capital

European Union strikes landmark deal to fight greenwashing in bond market

Companies that use the standard will have to prove that the proceeds from their green bonds are in line with the bloc's list of environmentally friendly activities, known as the taxonomy

HDFC prices its biggest ever rupee bond issuance; to raise Rs 25,000 crore

HDFC is stepping up borrowing from notes because its merger with HDFC Bank Ltd. will make accessing the bond market more difficult

The Adani saga: What it means for Indian banks

Globally, for infrastructure projects, the construction risk is borne by the bond market; the banks step in at a later stage when they can smell the cash flow

TMS Ep365: RBI rate hike, Boeing 747, bond markets, geothermal energy

Will RBI now hit the pause button on rate hikes? How did the Boeing 747 change air travel? What do the Budget and RBI policy mean for bond markets? What is geothermal energy? All answers here

Distressed funds including Oaktree Capital scoop up Adani Group bonds

Adani Enterprises Ltd., the flagship company, finished up nearly 15% on Tuesday, leading gains as other related stocks also rose

Bond yield hits 6-week low as Budget sticks to path of fiscal consolidation

Govt move to tax high-value insurance policies may hit demand for long-term bonds: Analysts

TMS Ep358: Budget expectations, Soumya Mohanty Q&A, markets, short-selling

What are citizens' expectations from the Budget? What does Kantar MD hope for consumer goods firms? What do bond market investors expect in Budget? What is short-selling? All answers here