Global Investors Pull Money Out of Indian Bonds for Second Week
- Foreign funds ditching debt for first time since index entry
- Net outflows come as India’s yield spread over US narrows
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Indian sovereign bonds that are eligible to trade on global debt indexes saw their second weekly outflow, signaling overseas investors are cooling on the nation’s debt.
Global funds last week sold 8.7 billion rupees ($104 million) of the so-called Fully Accessible Route bonds — a special category of debt that’s freely available to foreigners, according to the Clearing Corporation of India data.