Mumbai: Pension funds, driven by the National Pension System (NPS), continue to deploy money in sovereign debt, with the sector’s ownership of government bonds climbing to a record 4.4%, or ₹4.67 lakh crore, in the last quarter of 2023, up from 3.91%, or ₹3.66 lakh crore, a year ago, as per latest Reserve Bank of … Read more
By Subhadip Sircar Primary dealers stepped in to rescue an Indian bond auction as a spike in global yields dented demand for sovereign debt. Underwriters bought about 20% of the 240 billion rupees ($3.3 billion) of bonds on offer at a weekly sale, the Reserve Bank of India said in a statement Friday. They bought … Read more
By Kartik Goyal A conspicuous silence from the Reserve Bank of India regarding support for the nation’s bonds has left traders wondering whether the recent gains in yields is a new normal. The central bank may be trying to increase the attraction of sovereign debt by letting yields rise, according to PNB Gilts Ltd. The … Read more