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Indian bond yields rose on Friday tracking an overnight rise of U.S. Treasury yields and also as some selling was witnessed ahead of the Rs 15,000 crore debt sale during the day, which pushed bond prices lower, thereby raising the yields higher.
Government of India has announced the sale of four dated securities for Rs 15,000 crore on July 1, 2011. The Government of India have announced the sale (re-issue) of (i) “7.83 percent Government Stock 2018” for a notified amount of Rs 3,000 crore (nominal), (ii) “7.80 percent Government Stock 2021” for a notified amount of Rs 6,000 crore (nominal), (iii) “8.26 percent Government Stock 2027” for a notified amount of Rs 3,000 crore (nominal) and (iv) “8.30 percent Government Stock 2040” for a notified amount of Rs 3,000 crore (nominal) through price based auctions. The auctions will be conducted using uniform price method.
On the global front, U.S. Treasury debt prices extended the week's losses on Thursday, ending the quarter on a weak note at odds with the bond market's overall move up over the last three months. Brent and U.S. oil fell on Friday after manufacturing in China hit a 28-month low, raising concerns that fuel demand at the world's second largest oil importer may slow with the market also watching the progress of reserve oil stocks sales by IEA member nations.
Backhome, the yields on 10-year benchmark 7.80% - 2021 was up 2 basis points at 8.35% from its previous close of 8.33% on Thursday.
The benchmark five-year interest rate swap was up 5 basis points at 7.82% from its previous close of 7.77% on Thursday.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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