“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
India should take steps to include its debt in global bond indexes, allow banking services in rupee outside the country, and review taxes on masala bonds as measures to push for more international use of its currency, according to a report released by the Reserve Bank of India. “INR has potential to become an international … Read more
The longest streak of foreign inflows to Indian bonds in five years faces a key test Monday, with local inflation data expected to show signs of cooling price pressure. Global funds have poured a cumulative $465 million into Indian bonds over 13 straight days, the longest stretch since June 2017, on optimism that the US … 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
Foreign funds are steadily increasing exposure to Indian debt amid growing expectations that inclusion of the nation’s bonds into global indexes is imminent. Bond purchases by overseas investors under the uncapped Fully Accessible Route, climbed to 35 billion rupees ($476 million) in August, the highest this year. They’ve bought 29.4 billion rupees of bonds so … Read more