As the deadline for inclusion of government bonds in a JP Morgan index nears, several overseas investors eager for exposure to Indian assets but without the necessary registrations have piled into a derivative product that may account for a substantial 30% share of the near-$10-billion flows into local debt over the past nine months. International … Read more
The coalition of parties led by Modi is unlikely to deviate from the path of fiscal consolidation, and cooling inflation will allow the Reserve Bank of India to embark on easing later this year, according to Neeraj Seth, chief investment officer and head of APAC fundamental fixed income at BlackRock. “It’s actually a good time … Read more
MUMBAI – Indian government bond yields stayed higher on Friday, with the benchmark yield touching a nearly two-month high, as the Reserve Bank of India maintained rates and stance as widely expected while sounding cautious on inflation. The yield on the benchmark 10-year was at 7.1069% as of 11:10 a.m. IST, after closing at 7.0934% … Read more
“We’re very positive about India,” said Stephen Bird, chief executive officer of the firm that manages and administers £495 billion ($626 billion) in assets. Still, he sees the market facing some uncertainty ahead of the national elections starting next month. India’s debt market is projected to attract up to $40 billion of new money with … Read more
Foreign inflows into India’s sovereign bond market are closing in on the $10 billion mark ahead of the country’s inclusion in the JPMorgan Chase & Co’s emerging markets debt index. Investments into index-eligible Fully Accessible Route bonds have risen by 812.18 billion rupees ($9.8 billion) since the announcement in September, data from the Clearing Corp. … Read more
The craze for India’s booming bond market has reached as far as South Korea, where a bond fund that’s been mostly dormant for a decade is suddenly getting lots of interest. Mirae Asset Management Co.’s fund dedicated to Indian debt has grown to about 32 billion won ($22.5 million) from 24 billion won at the … Read more
Overseas investors are pouring more money into India’s sovereign bonds than stocks, drawn by their relatively lower valuations and upcoming inclusion into global debt indexes. Global funds have plowed a net $4.1 billion into the nation’s debt since Jan. 1, with government securities luring the bulk of the flows ahead of their addition to JPMorgan … Read more
