BONDS, CURRENCIES & COMMODITIES


Moneylife Digital Team 19 February 2010
With easy access, large players oversubscribed IRFC’s bond issue within a few hours, leaving small and individual players high and dry Indian Railway Finance Corp’s (IRFC) first tranche of a 5-year tax-free bond issue carrying an interest rate of 6% has reportedly been fully subscribed...

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Moneylife Digital Team 29 January 2010
Despite a more-than-expected hike in the Cash Reserve Ratio (CRR), banks today ruled out any immediate hike in lending rates Retail and corporate borrowers can breathe easy as bankers today said that an immediate hike in lending rates is unlikely even as the RBI tightened money supply by...

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Yogesh Sapkale Yogesh Sapkale 07 January 2010
The steel ministry had expressed concerns on increase in steel prices by domestic firms, including SAIL and Tata Steel, which own captive reserves of iron ore and coking coal State-run Steel Authority of India Ltd (SAIL) on Thursday said that it may cut prices of some of its products in...

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Yogesh Sapkale Yogesh Sapkale 05 January 2010
Demand for the ongoing marriage season and approaching festival of 'Makar Sakranti' might further boost buying activity in the face of tight supply Sugar prices on Tuesday rose to Rs4,250 per quintal at the wholesale market on increased buying for the current festival and marriage season...

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Amritha Pillay 29 December 2009
Power tariffs in the open market have crashed to Rs2-Rs5 per unit in December from Rs12-Rs14 per unit in June 2009. Seasonal fluctuation leading to low demand is being stated as the reason for these low tariffs Riding on high merchant power tariffs, a number of power companies have...

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Sanket Dhanorkar 24 December 2009
Yields on government bonds have witnessed wide fluctuations as participants speculated on the impending rate hike—but the government still remains non-committal on the timing of this move Over the past few days, yields on the benchmark 10-year bonds have seen volatile movements, as...

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The prices of Gujarat Sankar-6 (GS-6) medium staple Bt cotton closed at Rs26,200-Rs26,300 per candy on 24th November, up from Rs25,100-Rs25,200 per candy on 21st November. This rise is attributed to Chinese demand and buying by domestic mills. Prices are expected to stabilise at...

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Since the September 2009 low of $992 per ounce, gold prices have shot up 20% to $1,193 per ounce as of 26 November 2009, on hopes that central banks would purchase more gold to hedge against a falling dollar. Gold prices were also on an uptick due to fears over inflation in the year 2010. There...

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Loan growth is slow. Why then are interest rates still so high? In the 1980s, there was a band of high-profile bond traders who used to sell bonds heavily whenever they suspected that the central banks were not acting strongly and quickly enough to reduce deficits, government borrowings and...

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Food inflation shot up to 15.6% for the second week of November on the back of spiralling potato prices, which have more than doubled in the past year, reports PTI. Other essential items like pulses and onion rose by more than 25% in the wholesale market, government data on inflation for the...

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Countries look to park their funds in the yellow metal due to a falling US dollar and diminishing yields from government securities The month of December 2009 is expected to be very exciting for gold lovers, bullion dealers, speculators and central banks as the International Monetary Fund...

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The investment case for gold has become increasingly compelling with central bank buying and a structural change in interest in gold as an investment product among retail customers, said Standard Chartered (StanChart) in a research note. “Although the upside will be capped by lower jewellery...

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Strong Chinese import demand overcomes fears of global steel oversupply Iron ore prices have begun soaring since September 2009 from a bottom of $80-$84 per tonne and are now nearing their recent peak of $110-$112 per tonne of early August 2009. The cash prices for Indian iron ore exported to...

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Apprehensive of high government borrowings and widening fiscal deficit, bond markets are looking for some respite from PSU divestment funds but see no chance of yields falling significantly Talks of the government’s burgeoning fiscal deficit have now reached a high pitch, giving vent to...

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Falling yields on government bonds are being mirrored by the corporate bond segment, as sluggish credit growth and low interest rates lead to oversupply of money The Reserve Bank of India (RBI) has shied away from hiking interest rates, largely because credit growth has failed to match up to...

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Short-supply and growing demand from states such as Orissa, Bihar and Andhra Pradesh have led to a rise in the price of jaggery. Prices of black jaggery in Andhra Pradesh have already surged by over 50% in October 2009 to Rs275-Rs295/10kg from Rs170-Rs190/10kg in October 2008. From November...

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Between January 2009 and October 2009, the price of copper has shot up 125%. However, inventories of copper, monitored by the Shanghai Futures Exchange, stood at 102,835 tonnes as on 30 October 2009, up from 17,822 tonnes at the start of the year. China’s copper imports more than doubled in the...

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China’s steel trade body fears a rapidly worsening situation in the December quarter and early 2010 While Indian steel stocks are rallying, China Iron and Steel Association (CISA) has warned that oversupply is the major problem that the Chinese steel sector would need to confront. The trade...

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ML: Now that the economy is showing signs of revival, Dr Manmohan Singh has indicated that he may look at withdrawing stimulus measures. Where do you see the economy going forward? RVS: We should surely see a growth of more than 6-6.25%. The challenge is whether we can continue in this manner....

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The strong recovery by the mutual fund industry is reflected in the growth in assets under management (AUM) of debt schemes which have more than doubled within a year to Rs5.68 trillion. Ratings agency CRISIL said improvement in liquidity conditions in the Indian financial market along with...

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