Mumbai: Yields on the benchmark 10-year sovereign bond eased nearly seven basis points on Friday to 6.531% as the Reserve Bank of India (RBI) cancelled the 7-year bond auction scheduled for a notified amount of ₹11,000 crore. The RBI cancelled the auction as yields bid by auction participants were likely higher than the central bank’s … Read more
Cash pouring into India from its watershed inclusion into key global bond indexes is already reshaping markets in a country long keen to insulate itself from hot money flows. Foreign investors have pumped roughly 780 billion rupees ($9.4 billion) into eligible sovereign bonds since JPMorgan Chase & Co.’s landmark announcement in September and are beginning … Read more
India has the biggest bond market among emerging economies that’s not covered by global indexes, but bankers say that may change soon, potentially drawing in billions of dollars in inflows. Russia’s recent exclusion is one reason why. Morgan Stanley expects an announcement that India will be included in JPMorgan & Chase Co.’s emerging markets bond … Read more