INTERESTING PLAY IN 1-3 YEAR BUCKET
A very interesting story is likely to unfold in 1-3 year segment on the yield curve. Most of the market participants are in consensus about a downward bias on the yields of various maturities based on various factors which I have enumerated in my last note on AXIS Constant Maturity Scheme. I have given reasons [...]
PROMISES DELIVERED : AXIS STP
Axis STP NFO closed on January 20’2010. Theme of the NFO was to capture: Higher accrual Capture attractive spreads between 1 & 5 year corporate bonds; which were at historical highs Compression in CD/CP portfolio post March ‘2010 Roll down effect Initially the Fund Manager created a portfolio of 50:50 of 2-5 year corporate bonds [...]
Follow up note to the NFO of AXIS Short Term Plan
Thank you all for investing & supporting the NFO of AXIS Short Term Plan which closed on January 20’2010. The said NFO collected a decent sum of close to Rs.300 crs. As was discussed with most of our investors, 50% of these funds are already invested in 2-5 year corporate bonds & balance 50% is [...]
Axis Short Term Plan : NFO
As mentioned in my earlier notes, too much negative news is already priced into the debt markets. The same is reflecting in 10 year benchmark hovering around 7.63% levels & also in the 3-5 year corporate bond rates. Markets have started discounting rate hikes coupled with CRR hike. However, most of the bankers & Mr. [...]