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INDIA: Country Wrap:  PMI Services for November Moderates.

INDIA
IndiaEM BulletBulletAPACEmerging Market News
  • Today’s HSBC India PMI Services is no exception and whilst very strong at +58.4, is has softened from the prior month’s reading of +59.2.  (source: MNI – Market News).
  • India is prepared for a compromising approach while engaging with the incoming administration of Donald Trump to maintain its ties with the US, the South Asian nation’s foreign minister said. (source:  BBG).
  • With some market participants suggesting the RBI will cut rates this week, India's NIFTY 50  has had a strong day yesterday up +0.75% and has opened strong today to be up +0.44%, marking a fourth successive day of positive returns.     
  • INR – continues to be stable at 84.65.
  • Bonds:  India’s 10-year is seeing strong demand with yields down almost 3bps at 6.687%.     
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  • Today’s HSBC India PMI Services is no exception and whilst very strong at +58.4, is has softened from the prior month’s reading of +59.2.  (source: MNI – Market News).
  • India is prepared for a compromising approach while engaging with the incoming administration of Donald Trump to maintain its ties with the US, the South Asian nation’s foreign minister said. (source:  BBG).
  • With some market participants suggesting the RBI will cut rates this week, India's NIFTY 50  has had a strong day yesterday up +0.75% and has opened strong today to be up +0.44%, marking a fourth successive day of positive returns.     
  • INR – continues to be stable at 84.65.
  • Bonds:  India’s 10-year is seeing strong demand with yields down almost 3bps at 6.687%.