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INDIA: Country Wrap:  PM Modi to Meet Trump. 

INDIA
  • Prime Minister Narendra Modi of India has been invited to meet with President Donald Trump in Washington next week.  Trump announced last month that he would host Modi at the White House, likely in February.  Modi's government has made concessions to the White House, including an overhaul to its tariff regime, to head off a US-Indian clash over trade. (source: BBG).
  • Global Fund Buying of Indian Bonds Hits 1-Year High (source: BBG)
  • Palm oil imports by India tumbled to the lowest in 11 years as a rare premium over rival soybean oil and cold weather conditions prompted local traders and refiners to cut purchases (source: BBG)
  • With some positive developments in tariff discussions, India’s NIFTY 50 is opening strong up +0.45%
  • INR: The rupee is bouncing at the open after yesterday’s losses, up 0.09 to be at 87.11
  • Bonds : are opening a touch softer with the IGB 10 YR +0.5bp higher at 6.67%
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  • Prime Minister Narendra Modi of India has been invited to meet with President Donald Trump in Washington next week.  Trump announced last month that he would host Modi at the White House, likely in February.  Modi's government has made concessions to the White House, including an overhaul to its tariff regime, to head off a US-Indian clash over trade. (source: BBG).
  • Global Fund Buying of Indian Bonds Hits 1-Year High (source: BBG)
  • Palm oil imports by India tumbled to the lowest in 11 years as a rare premium over rival soybean oil and cold weather conditions prompted local traders and refiners to cut purchases (source: BBG)
  • With some positive developments in tariff discussions, India’s NIFTY 50 is opening strong up +0.45%
  • INR: The rupee is bouncing at the open after yesterday’s losses, up 0.09 to be at 87.11
  • Bonds : are opening a touch softer with the IGB 10 YR +0.5bp higher at 6.67%