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Front End Rates Mostly Skewed Lower This Week

ASIA RATES
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

INDIA

  • In a week dominated by the new budget, it was easy to miss the analysis showing the benefit of India’s inclusion in the JPMorgan index recently
  • Long dated demand from overseas investors (according to The Clearing Corporation of India showed that the maturity of over 20% of foreign investors holdings were in excess of 10 years, per BBG).
  • The addition of India into the benchmark is timely given the recent budget committing to continued fiscal targets and voices within the Central Banks entertaining the idea of cuts.
  • As with other Central Banks globally, the Indian Central Bank’s decision makers will be considering their next moves in the context of FED moves
  • Bonds performed well across the curve today as yields finished lower on the week

2yr 6.762 (-4bp) 6.856% (-2bp) 6.943% (-1bp) 7.027% (-0.5bp)

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INDIA

  • In a week dominated by the new budget, it was easy to miss the analysis showing the benefit of India’s inclusion in the JPMorgan index recently
  • Long dated demand from overseas investors (according to The Clearing Corporation of India showed that the maturity of over 20% of foreign investors holdings were in excess of 10 years, per BBG).
  • The addition of India into the benchmark is timely given the recent budget committing to continued fiscal targets and voices within the Central Banks entertaining the idea of cuts.
  • As with other Central Banks globally, the Indian Central Bank’s decision makers will be considering their next moves in the context of FED moves
  • Bonds performed well across the curve today as yields finished lower on the week

2yr 6.762 (-4bp) 6.856% (-2bp) 6.943% (-1bp) 7.027% (-0.5bp)

Keep reading...Show less