In Two Weeks, India Debt Turns Favorite From Loser for Funds
- Foreigners set to buy most sovereign bonds since June 2017
- Three-year bond yields drop 31 basis points since RBI’s policy
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Just a month ago, global funds couldn’t wait to dump India’s sovereign bonds. Now, they’re rushing back at the fastest pace in more than two years.
Foreigners bought 136.7 billion rupees ($1.9 billion) of the debt in the first two weeks of February, set for the highest monthly inflow since June 2017, according to data compiled by Bloomberg. They sold 106.6 billion rupees last month.