net_left Phương Thức Thanh Toán

India OIS curve may steepen on overcooked rate hike bets - BofA

23 Tháng Chín 2022
India OIS curve may steepen on overcooked rate hike bets - BofA © Reuters. A man looks at a screen displaying news of markets update inside the Bombay Stock Exchange (BSE) building in Mumbai, India, May 23, 2019. REUTERS/Francis Mascarenhas

MUMBAI (Reuters) - A part of India's overnight indexed swaps curve, a gauge for future policy rates, may steepen as investors are pricing in a more hawkish-than-expected central bank stance, BofA Securities said on Friday.

BofA expects the Reserve Bank of India to raise rates by 25-35 basis on Sept. 30 and reckons the policy rate will reach 6.5% by end-2023, much later than what some investors are expecting.

The forward OIS curve up to 6 months is pricing in two 60-basis-point rate hikes over the next two RBI meetings, which would take the policy rate above 6.5% by December itself.

"Inflation and growth indicators (are) tracking below RBI's projections, increasing chances of disappointment in the next meeting," the research house said.

The Indian central bank meets next week, with a slim majority of economists in a Reuters poll expecting a half-point hike and some others expecting a smaller 35 basis point rise.

BofA pointed out inflation was evolving in line with the RBI's projections so far this quarter. And, in its previous policy meeting, the RBI had retained its growth forecast for the current fiscal year.

The research house recommends entering a 3-month forward non-deliverable OIS 1-year, 5-year steepener trade.

In support of the trade, BofA highlighted that the 5-year part of the OIS curve was under-pricing fiscal risks.

"(The) 5-year is pricing-in flat policy rate profile after quick rate hikes, but a steeper curve would fully reflect the term-premium for fiscal risks," it said.

Để lại bình luận
Hot Auto Trade Bot Phương Thức Thanh Toán
BROKERS ĐƯỢC CẤP PHÉP
net_home_top Ai VIF
03-10-2022 18:58:18 (UTC+7)

EUR/USD

0.9760

-0.0039 (-0.40%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (4)

EUR/USD

0.9760

-0.0039 (-0.40%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (4)

GBP/USD

1.1205

+0.0045 (+0.40%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (3)

USD/JPY

144.90

+0.14 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

AUD/USD

0.6452

+0.0050 (+0.77%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (2)

USD/CAD

1.3742

-0.0084 (-0.61%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

EUR/JPY

141.41

-0.43 (-0.30%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

EUR/CHF

0.9649

-0.0021 (-0.22%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

Gold Futures

1,673.25

+1.25 (+0.07%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (7)

Silver Futures

19.433

+0.394 (+2.07%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (4)

Sell (3)

Copper Futures

3.3680

-0.0445 (-1.30%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (3)

Crude Oil WTI Futures

82.91

+3.42 (+4.30%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (2)

Brent Oil Futures

88.48

+3.34 (+3.92%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (0)

Natural Gas Futures

6.565

-0.201 (-2.97%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (4)

US Coffee C Futures

220.18

-1.37 (-0.62%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Euro Stoxx 50

3,306.65

-11.55 (-0.35%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (2)

S&P 500

3,585.62

-54.85 (-1.51%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

DAX

12,077.53

-36.83 (-0.30%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

FTSE 100

6,859.90

-33.91 (-0.49%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Hang Seng

17,079.51

-143.32 (-0.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

1,667.27

-7.66 (-0.46%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

IBEX 35

7,390.95

+24.15 (+0.33%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

BASF SE NA O.N.

40.250

+0.650 (+1.64%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (0)

Bayer AG NA

47.52

+0.11 (+0.23%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Allianz SE VNA O.N.

160.60

-1.20 (-0.74%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (8)

Adidas AG

117.25

-1.63 (-1.37%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (11)

Sell (0)

Deutsche Lufthansa AG

5.572

-0.346 (-5.85%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

Siemens AG Class N

99.33

-1.87 (-1.85%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Deutsche Bank AG

7.410

-0.236 (-3.09%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

 EUR/USD0.9760Neutral
 GBP/USD1.1205Buy
 USD/JPY144.90↑ Sell
 AUD/USD0.6452Buy
 USD/CAD1.3742↑ Sell
 EUR/JPY141.41↑ Sell
 EUR/CHF0.9649↑ Sell
 Gold1,673.25↑ Sell
 Silver19.433↑ Buy
 Copper3.3680Neutral
 Crude Oil WTI82.91Neutral
 Brent Oil88.48↑ Buy
 Natural Gas6.565Sell
 US Coffee C220.18↑ Sell
 Euro Stoxx 503,306.65↑ Buy
 S&P 5003,585.62↑ Sell
 DAX12,077.53↑ Buy
 FTSE 1006,859.90↑ Buy
 Hang Seng17,079.51↑ Buy
 Small Cap 20001,667.27↑ Sell
 IBEX 357,390.95↑ Buy
 BASF40.250↑ Buy
 Bayer47.52↑ Sell
 Allianz160.60↑ Sell
 Adidas117.25↑ Buy
 Lufthansa5.572↑ Buy
 Siemens AG99.33Sell
 Deutsche Bank AG7.410↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,540/ 6,620
(30/ 10) # 1,795
SJC HCM6,520/ 6,620
(-20/ -20) # 1,798
SJC Hanoi6,520/ 6,622
(-20/ -20) # 1,800
SJC Danang6,520/ 6,622
(-20/ -20) # 1,800
SJC Nhatrang6,520/ 6,622
(-20/ -20) # 1,800
SJC Cantho6,520/ 6,622
(-20/ -20) # 1,800
Cập nhật 03-10-2022 18:58:20
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,665.33+1.030.06%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V22.12022.560
RON 95-III21.44021.860
E5 RON 92-II20.73021.140
DO 0.05S22.20022.640
DO 0,001S-V24.18024.660
Dầu hỏa 2-K21.68022.110
ↂ Giá dầu thô thế giới
WTI$82.47-0.85-1.04%
Brent$88.51-3.2-3.61%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.730,0024.040,00
EUR22.844,1424.122,55
GBP25.913,3127.017,45
JPY160,53169,94
KRW14,3417,48
Cập nhật lúc 18:18:04 03/10/2022
Xem bảng tỷ giá hối đoái
Phương Thức Thanh Toán