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Indian bond yields after taking a breather in the previous session have again resumed their upwards trajectory tracking higher crude oil prices and US treasury yields. The bond yields edged higher as trader’s made room for the debt sale worth Rs 12,000 crore on Friday. Meanwhile, traders would also be watching out for auction of treasury bills later in the day.
On the global front, U.S. Treasury prices in the Asian trade fell as profit-taking emerged after solid gains the previous day. Earlier, U.S. Treasuries' prices edged higher as new worries that the most severe elements of Europe's debt crisis are in danger of spreading, including Portugal's first ratings downgrade to junk, rekindled U.S. Treasuries' safe-haven appeal, thereby ending a five-day selloff. Meanwhile, Brent crude edged up on Wednesday rose for a second straight session on expectations of higher demand in the months ahead and tighter U.S. inventories, but concerns about moderating economic growth in China and euro zone debt woes kept a lid on gains.
Back home, the Reserve Bank of India has announced the auction of 182-day and 91 day Government of India Treasury Bills for notified amount of Rs 3,000 crore and Rs 7000 crore respectively. The auction will be conducted on July 6, 2011 using 'Multiple Price Auction' method.
Additionally, the Government of India have announced the sale of three dated securities for Rs 12,000 crore on July 8, 2011, which includes (i) “8.07 percent Government Stock 2017” for a notified amount of Rs 3,000 crore (nominal), (ii) “8.13 percent Government Stock 2022” for a notified amount of Rs 6,000 crore (nominal) and (iii) “8.28 percent Government Stock 2027” for a notified amount of Rs 3,000 crore (nominal) through price based auctions.
The yields on 10-year benchmark 7.80% - 2021 were up 2 basis points at 8.36% from its previous close of 8.34% on Tuesday.
The benchmark five-year interest rate swaps were steady at its previous close of 7.76%.
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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