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Published on 03-11-2025 10:34 am

10 Year Benchmark Technical View :

The 10 year Benchmark (6.33% GS 2035) yield likely to move in the range of 6.56% to 6.58% level on Monday

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Published on 03-11-2025 10:29 am

Global Debt Market:

U.S. Treasury yields ticked up on Friday amid a slightly more hawkish Fed tone following this week’s rate cut, as economic data comes into focus amid the ongoing government shutdown. The 10-year Treasury yield, the benchmark for U.S. government borrowing, was up about 1 basis point , reaching 4.103%. Yields on the 2-year Treasury note stood marginally lower, at 3.607%. The 30-year bond yield, meanwhile, rose almost 2 basis points to 4.665%. The Federal Reserve cut interest rates by 25 basis points to a target range of 3.75%-4%. the lowest level in three years in a 10-2 vote which had been widely anticipated by investors. Attention is likely to turn to the latest Chicago Purchasing Managers’ Index data, due later. Consensus expectations for the data, which tracks the pace of business activity in the Midwest, stands at 42 for the month of October, above the 40.6 in September’s release, which had been below market expectations. The four-week -old government shutdown means the U.S. central bank is still grappling with a data blackout, making economic forecasts tricky. That is putting companies’ earnings firmly in the spotlight, as investors look to get a better reading on consumer sentiment. Both Apple and Amazon exceeded analysts’ expectations in their quarterly earnings results on Thursday. Speeches by Beth Hammack, president of the Cleveland Fed, Lorie Logan president of the Dallas Fed, and Raphael Bostic, president of Atlanta’s Fed, are all due later. Fed Chairman Jerome Powell has warned that another rate cut in December is “far from” a “foregone conclusion.”

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Published on 03-11-2025 10:28 am

Government Security Market:

* The Inter-bank call money rate traded in the range of 4.85%- 5.75% on Friday ended at 5.25% .

* The 10 year benchmark (6.33% GS 2035) closed at 6.5317% on Friday Vs 6.5730% on Thursday .

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Published on 03-11-2025 10:28 am

Global News

* China’s factory growth cools in October amid tariff jitters and weak export demand: China’s factory growth slowed in October as new orders and output weakened amid tariff uncertainty. The RatingDog Manufacturing PMI eased to 50.6 from 51.2, below expectations. Except for employment, all indices fell. While hiring hit a 14-month high, export orders dropped sharply on weak global demand. Rising input costs and falling product prices squeezed margins. The government announced a ¥1 trillion support package to revive investment and local finances.

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Published on 03-11-2025 10:28 am

Economic News

* Canadian PM Carney refers to 'progress' with India amid tariff strains with US: Canada is strengthening international partnerships, particularly with India and Asia-Pacific nations. Prime Minister Mark Carney emphasised this strategy to reduce dependence on the United States. Recent discussions with India's foreign minister and other officials signal a renewed focus on trade and cooperation. This move aims to build domestic strength through global alliances.

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