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Bond yields nudged higher tracking an overnight rise in U.S. yields and a jump in global oil prices. Meanwhile, the Rs 12,000 crore debt sale auction also weighed on the sentiment. However, demand for bonds from state-run banks to meet mandatory investment rules may limit the rise of the bond yields. Banks are required to keep 24 percent of their deposits in government debt and other approved securities under a statutory liquidity ratio norm.
On the global front, U.S. Treasuries prices fell on Thursday as the encouraging private-sector jobs data and European Central Bank support for Portuguese debt reduced worries about the economy and sovereign fiscal problems in Europe. Meanwhile, Oil jumped on Thursday by the biggest percentage in two months, hitting a three-week high as U.S. data on jobless claims and retail sales came in stronger than expected, raising hopes that economic recovery was gaining traction.
Back home, 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 edged higher by 1 basis point at 8.37% from its previous close of 8.36% on Thursday.
The benchmark five-year interest rate swaps were up basis points at 7.77% from its previous close of 7.73% 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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