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INDIA: Overseas Investors Cutting their Holdings of Indian Bonds. 

INDIA
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  • Overseas investors are cutting their holdings of Indian bonds at the fastest pace since at least June, as rising US yields damp the appeal of the Asian nation’s fixed-income securities (source:  BBG)
  • The week ahead is to be dominated by the HSBC PMI Manufacturing and Services data releases. These data points have continued to be robust in 2024 and given the RBI sticking to its GDP forecast of 7.2%, it seems likely that this week’s results will continue to be strong.
  • Following a soft week last week, India’s NIFTY 50 has started this week off lower down -0.25%.
  • INR – the Rupee had a very steady week finishing virtually unchanged at 84.4050 and it opening up today a touch better at 84.3970.
  • Bonds: Bond yields moved higher last week with the 10-year +5bp for the week. All of the Indian Government’s issuance this week is focused on short dated bills. 
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  • Overseas investors are cutting their holdings of Indian bonds at the fastest pace since at least June, as rising US yields damp the appeal of the Asian nation’s fixed-income securities (source:  BBG)
  • The week ahead is to be dominated by the HSBC PMI Manufacturing and Services data releases. These data points have continued to be robust in 2024 and given the RBI sticking to its GDP forecast of 7.2%, it seems likely that this week’s results will continue to be strong.
  • Following a soft week last week, India’s NIFTY 50 has started this week off lower down -0.25%.
  • INR – the Rupee had a very steady week finishing virtually unchanged at 84.4050 and it opening up today a touch better at 84.3970.
  • Bonds: Bond yields moved higher last week with the 10-year +5bp for the week. All of the Indian Government’s issuance this week is focused on short dated bills.