Chart 7: Average daily volume in G-Sec and corporate bond repo 0.08 0.07  USD billion  25  25  20 15  0.07 0.06 0.05  16  0.04 0.03  10  USD billion  30  0.02 5 0  0.01  0.00 FY 09- FY 10- FY 11- FY 12- FY 13- FY 14- FY 15- FY 16- FY 17- FY 1810 11 12 13 14 15 16 17 18 19 Repo/TREPS* in G-Sec  0.00  Corporate Bond repo (RHS)  * Triparty Repo System (TREPS) 6 Source: Clearing Corporation of India Limited (CCIL)  3.
But the spread of the virus triggered a market reaction that at times rivalled the 2008 financial crisis in terms of the magnitude of price falls and volatility. The tightening of market conditions was abrupt, broad-based and, at times, disorderly. Markets calmed following the announcement of forceful responses by monetary authorities around the globe.