November 29, 2024 05:26 GMT
INDIA: Country Wrap: Bond Market Seeing First Foreign Outflows.
INDIA
- Bond Market Seeing First Foreign Outflows (source: MNI – Market News)
- Indian wages contracted last quarter for the first time since the pandemic, curbing the economy’s breakneck speed as consumers cut spending and corporate profits slump. (source: BBG).
- NIFTY 50 has opened this morning very weak and in early trade is down -1.50%. Despite India’s growth profile remaining robust, recent days have seen some significant outflows across equities and bonds. The NIFTY 50 is on track to post a -1.15% decline.
- INR has continued it’s period of resilience steady at 84.49.
- Bonds are set to see yields opening lower with the 10-year down 1.5bp at 6.83% which will result in a marginally lower yield for the month.
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