Bond Buyers Can’t Get Enough as India Debt Gains Most Since 2010
- Daily turnover for Indian sovereign bonds climbs to a record
- ‘Major part of the bond rally is behind us’: India Ratings
The Reserve Bank of India in Mumbai, India.
Photographer: Divyakant Solanki/EPAThis article is for subscribers only.
Record turnover in India’s government debt is adding to the signs that investors just can’t get enough of Asia’s highest-yielding bonds.
The daily turnover for the notes on the Reserve Bank of India’s dealing platform reached an unprecedented 1.43 trillion rupees ($21.4 billion) on Thursday, data compiled by Bloomberg show. At 921 billion rupees, the daily average value of securities traded for the month of July was also an all-time high, and more than double the amount for the first six months of 2016, as benchmark 10-year bonds capped their best month since May 2013.