DOLLAR BONDS
Rupee nearly flat wedged between yuan weakness, dip in US bond yields
Indian rupee's stability faces uncertainty pending the release of Fed's policy meeting minutes and U.S. ADP employment data for potential impact on future U.S. policy rates.
Rupee declines pressured by weak Asian peers, oil companies' dollar bids
Indian rupee weakens as Asian currencies fall amid strong dollar demand. US bond yield rise impacts currencies, with Chinese yuan and Korean won leading losses.
Rupee falls 11 paise to 83.45 against US dollar
The central government's fiscal deficit reached 3% of the annual estimates by May-end 2024-25. India's forex reserves surged to USD 653.711 billion, with FIIs selling shares worth Rs 23.09 crore. The RBI confirmed the increase in reserves, reflecting a positive economic outlook.
JGB yields rise as global politics add to pressure from yen
Japanese bond yields surged on expectations of tighter Bank of Japan policy amid a weak yen. Global concerns over French and U.S. elections drove yields higher. Mizuho Securities forecasts continued increase in bond yields with uncertainty surrounding BOJ's tightening plans and potential rate hike at the July meeting.
India set for more global attention as bond inclusion begins
India's government bonds enter JPMorgan's index, attracting billions in inflows, driven by positive economic indicators, high yields, and market performance, positioning India as a top choice for global investors.
Rupee ends higher, lifted by bond inflows; oil firms' dollar bids cap gains
The Indian rupee closed higher at record levels despite dollar demand, reflecting resilience amidst regional pressures. Anticipation of dollar inflows related to JPMorgan's index inclusion boosted the currency.
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Foreigners buy Indian debt on eve of JPMorgan index inclusion, indicators signal
Currency market reacts to India's JPMorgan index inclusion with increased foreign buying and dollar transactions by large banks. Traders anticipate passive inflows despite the rupee's limited appreciation. RBI expected to manage the market dynamics prudently.
Strong dollar will continue to cause problems for emerging markets and commodities in 2024: Adrian Mowat
The Emerging Market funds that have been doing well have been very overweight in India and they may not feel comfortable in increasing that overweight. The Indian bull market is very much a story of strong domestic fundamentals and a robust savings pool in India buying its market, says Adrian Mowat
Asia stocks down, yen slump keeps markets on intervention alert
Asian shares fell on inflation worries, pushing bond yields higher. The yen's decline raised intervention fears. The dollar surged against major currencies. Markets reacted to unexpected inflation hikes. Uncertainties in commodity markets added to the jittery mood.
Asia stocks down, yen slump keeps markets on intervention alert
Inflation concerns impact markets worldwide, driving bond yields up and Asian shares down. Currency markets watch as the yen weakens, prompting fears of intervention. Unexpected jumps in inflation in Australia and Canada add to market nerves before the Federal Reserve's upcoming data release.
Gilts to shine brighter from tomorrow
JP Morgan will include 27 fully accessible Indian government bonds in its GBI-EM global index suite starting June 28, allowing global investors to deploy funds in these bonds.
Bond Street to see $2-3 billion foreign inflows a month after inclusion in JP Morgan Index
"We have a different profile spread across clients. There are real money clients who may be investing in India off-benchmark. Then there will be the passive index trackers who will be the regular ones coming each month and we may see some large allocations come in intermittently. So, around $2-3 billion per month is what we expect," Parul Mittal Sinha, head - financial markets, India & co-head, macro trading, ASA, Standard Chartered Bank, told ET.
Vedanta mulls 1st dollar bond sale of $500 million
The bond sale could climb to $1 billion depending on the response from investors, according to one of the people. The company is also exploring other avenues of fundraising, including equity sales and local currency loans from domestic banks, the people said.
Wall Street bucks global rally as bond yields rise
Wall Street's rally, driven by Nvidia and AI enthusiasm, saw record highs. European stocks were boosted by tech and real estate sectors. The STOXX 600 and FTSEurofirst 300 indexes rose, reflecting market optimism.
India set for decade-high $2 billion bond inflows around JPMorgan index inclusion day
Foreign inflows into Indian bonds will hit a decade-high of $2 billion around June 28, when they will be included in a widely-tracked JPMorgan index, although the central bank will lap up most of the dollars to avoid a knee-jerk rise in the rupee, bankers said.
EM bond rally threatened as hawkish flags multiply
The balmy days of dovish monetary policy that fuelled a rally in emerging-market bonds looks to be over as central banks across the developing world turn more hawkish.
SBI concludes issuance of $100 million foreign bonds
These mio senior unsecured floating rate notes have a maturity of three years and coupon of SOFR+95 bps, the bank said. The secured overnight financing rate or the SOFR is a benchmark interest rate for dollar denominated loans.
UBS fund manager likes China's junk debt but is skeptical on India
“In India, the market underestimates the risk, while in China high yield, Sri Lanka and certain other corners of EM, the market overestimates the risk,” Khan, who manages combined assets of roughly $1 billion, said in an interview this week.
10-year benchmark sovereign bond yield slips below 7% as inflation cools in India and US
Yield on the 10-year securities retreated to 6.98% Thursday after India's retail inflation eased to a one-year low of 4.75% in May, as against an 11-month low of 4.83% the previous month.
Continuum Green Energy revives green bond offering post election pause
Continuum Green Energy is set to proceed with its $660 million secured green bond offering, initially paused due to political uncertainties after Prime Minister Narendra Modi’s third-term win with fewer seats than expected.
Bond yields jump, rupee weakens as trends fall short of hopes of largest NDA win
Government bonds and the rupee weakened as Lok Sabha election results indicated a lower NDA majority. 10-year bond yield rose 9 bps to 7.03%, rupee fell to 83.42/$1. Yields impact borrowing costs. Market awaits full election outcome.
Bonds, rupee stage strong rebound on poll outlook
Government bond yields closed at their lowest in over two years, and the rupee saw its largest single-day gain since December, driven by exit polls predicting a strong NDA victory in the general elections.
10-year bond yield at 2-year low, rupee gains as exit polls show NDA victory
Yield on the 10-year benchmark government ended the day’s trade at 6.9438%, its lowest closing level since April 7, 2022, LSEG data showed.
RBI to face problem of plenty: Prepare for bond sales
The RBI's challenge for the year may not be inflation but liquidity. Government spending resumption and overseas fund flows complicate monetary policy effectiveness.
Foreigners boost India corporate debt buying before govt bond index inclusion
Foreign investors show increasing interest in Indian rupee-denominated corporate debt ahead of the inclusion of Indian government securities in a global bond index, expecting passive inflows of around $25 billion. Recent data highlights purchases in corporate bonds, interest in launching ETFs, and robust demand for dollar bonds.
Rupee bonds likely to outperform US and other developed markets
"Vis-a-vis, the rest of the world, the earlier story of a regular rupee depreciation will start to dissipate. While we are going to be a function of global markets, the rupee bonds will actually outperform the US and the rest of the developed markets," Ashhish Vaidya, head, treasury & markets, DBS Bank India, told ET.
Asian junk bond sales are hottest in five years on India boom
Regional sales of such corporate notes, outside of Japan, touched $5.9 billion so far this year, already surpassing $4.4 billion in all of 2023, according to Bloomberg-compiled data. Indian borrowers have topped the share of sales so far this year, with nearly 44% share.
Muthoot Finance raises $650 million via offshore dollar bonds
The non-banking financial company raised the funds through bonds maturing in three years and nine months at a coupon rate – or rate of interest – of 7.125%. The funds will be used for onward lending and other activities that are allowed under the Reserve Bank of India’s external commercial borrowing guidelines.
Indian government bonds outperform corporates on index boost
Fixed income in the world’s most populous country is in demand ahead of its addition into JPMorgan’s emerging markets debt gauge in late June. The accession is expected to attract tens of billions of dollars of inflows into a market historically shielded from foreigners.
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