The dollar bonds of Vedanta Resources slipped, with one dropping the most in more than three weeks, on news Indian billionaire Anil Agarwal is planning to overhaul his sprawling conglomerate to tackle its debts. All four junk-rated notes were indicated lower on Monday, Bloomberg-compiled data showed. The August 2024 bond posted the biggest drop, down … Read more
At a time when domestic bond yields were heading north tracking the US yields and amid hawkish remarks by the US Fed on rate hikes, news of the inclusion of Indian government bonds in the JPMorgan Global Bond Index was like a vitamin pill for bond traders. Most experts believe that the inclusion will help … Read more
The government is considering measures to make green and blue bonds attractive to investors, including changes to the pricing regulations and ways to deepen the bond market. The move is aimed at giving a big push to sustainable green financing of projects, said a senior official. The NITI Aayog has been tasked to look at … Read more
Bonds issued by Indian companies saw their biggest foreign inflow in five years as the nation’s largest ever low-grade local currency debt sale drew a slew of overseas investors attracted by the high yield on offer. Goswami Infratech Pvt., a Shapoorji Pallonji group company controlled by tycoon Shapoor Mistry, raised 143 billion rupees ($1.7 billion) … Read more
Mumbai: India’s sovereign bond market, a barometer for broader borrowing costs in the economy, has seen transaction volumes jump to their highest in eight months as most traders believe expectations of moderating consumer inflation through the summer indicate the central bank has reached its intended terminal rates in the current cycle. Increasing conviction that the … Read more
2022 put global economy and financial market to multiple tests. The end to cheap money drove volatility and large drawdowns in financial assets. Prospects for 2023 will, to a large extent, be dependent on resolution of some of the challenges and the backdrop laid out in 2022. Europe and the US are headed for a … Read more
Under pressure from central bankers determined to quash inflation even at the cost of a recession, global bonds slumped into their first bear market in a generation. The Bloomberg Global Aggregate Total Return Index of government and investment-grade corporate bonds has fallen more than 20% below its 2021 peak, the biggest drawdown since its 1990 … Read more
US recession risks are reverberating across the emerging Asian debt complex and nowhere is this more apparent than in Indian sovereign bonds. Rupee debt has proven to be the most sensitive to an inversion of the US curve in the past and this time is unlikely to be different, according to a Bloomberg study which … Read more
The debt of Jaguar-owner and mining giant Resources Ltd. suffered their biggest drop on record last week, among a handful of Indian companies whose bonds plummeted as the rupee sank to a record low. In addition to those two dollar notes maturing in 2024, Energy’s foreign currency bond tumbled the most since March while GMR … Read more
NEW DELHI: Sovereign bonds enjoyed strong buying support on Wednesday despite a 50-basis point rate hike by the Reserve Bank of India as the central bank refrained from further whittling down the liquidity surplus in the banking system through a fresh hike in the cash reserve ratio, dealers said. The rise in bond prices on … Read more