MNI BRIEF:PBOC Starts Temporary OMO Tools To Adjust Liquidity

MNI: China CFETS Yuan Index Down 0.28% In Week of Jul 5

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1286 Mon; -0.29% Y/Y

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1286 MON VS 7.1289

Australia May Housing New Loan Commitment -1.7%

MNI BRIEF: Japan May Negative Real Wage Widens to -1.4%

Headline Earning Misses, But Details Stronger

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Government Bonds To Be Included In J.P. Morgan GBI-EM Index In 2024

INDIA

J.P. Morgan announced that Indian bonds will be included in its GBI-EM index from mid next year. Inclusion in the index will start on June 28th 2024 and extend over the next 10 months. India's weighting is expected to reach a maximum of 10% (going up in 1% increments over this 10 month period).

  • J.P. Morgan notes $236bn in funds track the GBI-EM index. 23 Indian Government Bonds with a combined notional value of $330bn are eligible. These bonds fall under the category of fully accessible for offshore investors.
  • Speculation will now be around whether other bonds indices also add Indian government bonds to their respective indices.
  • So far this year there has been much stronger inflows into Indian equities, nearly $16bn, while net bond inflows have been close to +$3.5bn.
  • USD/INR sits just below record highs but has outperformed most other Asian FX so far this year. Currency strength tends to more closely aligned with equity inflows than bond inflows though, with a tendency for offshore investors to hedge equity exposure less.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.