JPMorgan Financial News

Three years and nearly $1 billion later, Wells Fargo & Co. is finally playing offense in one of Wall Street’s hottest battlegrounds: wealth management.

Investors have about $2 trillion of funds available to invest, and about $100 billion to $150 billion of that is focused on India, according to Anu Aiyengar, JPMorgan Chase & Co.’s global head of mergers and acquisitions.

Bloomberg Television's Rishaad Salamat, Aiyengar said, “As we look at a combination of the inflows into the Indian market, as well as the exits financial sponsors have successfully been able to do, that bodes well for more money getting deployed in India." “It is hard to find a market like this which has the growth characteristics and stability as well as tech, health care, and infra solutions that are being provided by a multitude of companies," Aiyengar added. The New York-based banker also pointed to India’s fast-rising GDP among the attributes that make it so attractive.

volatility in the near-term after JPMorgan announced India's inclusion in its widely tracked emerging market debt index, BlackRock's head of Asia Pacific fixed income said on Friday. JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion were eligible for inclusion in its Government Bond Index-Emerging Markets (GBI-EM) index and index suite, benchmarked by about $236 billion in global funds. Neeraj Seth, chief investment officer and head of APAC fundamental fixed income at BlackRock, expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold of 10% is achieved on the GBI-EM index. Given the size of the $2 trillion global government bond market, it may add only a little bit to the volatility in Indian bond markets, Seth told the Reuters Global Markets Forum. The volatility would become «more profound and visible» if foreign ownership were to go into double digits, Seth said, adding that he expected foreign ownership of Indian government bonds to rise to 3.0%-3.5% post-inclusion. «I don't think that's significant enough to move the markets around,» he said. Foreign investor buying in Indian bonds has remained tepid with net purchases of $3.4 billion so far in 2023. Foreign investors own less than 2% of outstanding government debt. Separately, Seth believes there will be a shift in asset allocations as markets head into 2024, which he sees becoming a «very attractive year», especially for U.S.

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Goldman Sachs have let go of their global head of Transaction Banking (TxB) services, Hari Moorthy. Word on the street seems to be that the meditation-loving partner was let go over… Using unregulated communication channels (probably WhatsApp).

TIAA has overhauled the senior leadership of its wealth management business.

emerging market global bond indices marks the end of nearly a decade of negotiations between the government and the international index provider, with the potential to draw inflows of more than $40 billion into Indian bonds over the next 18 months. On Thursday, JPMorgan Chase announced that 23 Indian government bonds, with a combined nominal value of $330 billion, have been found eligible to be added to the Global Bond Index Emerging Markets Index (GBI-EM). The bonds will be included in the indices over 10 months, starting 28 June 2024, with 1% weight being added per month, and is expected to reach the maximum weight of 10% by 31 March 2025.

Emerging Markets Bond indices is testament to investors’ confidence in the country’s fiscal discipline and macroeconomic stability. That it has come about while access to the Euroclear settlement system is still pending and with almost no concessions on withholding and capital gains taxes is noteworthy. India will be included in at least one of the JPMorgan Emerging Markets bond indices (and significantly in their JESG variants), the GBI-EM Global Diversified Index suite, beginning 28 June 2024, and thereafter reach 10% of the index weight in a staggered manner over 10 months.

Indian government bonds in its Government Bond Index-Emerging Markets (GBI-EM) with effect from June 2024 says it all. Predictably, markets are elated, policy makers, circumspect. This is not surprising.

V Anantha Nageswaran on Friday. Global financial firm JP Morgan has said that it plans to include Indian government bonds or government securities (G-Secs) into its benchmark emerging market index from June, 2024, a move that will bring down borrowing costs for the government. Nageswaran said that there is no need to assume there would be increased volatility in the currency market due to the index inclusion.

After more than six years working as an accountant, Omer Khokhar knew he wanted out. The New York resident found accounting work monotonous, with little room for creativity or growth, and maximum salaries weren’t as high as he would have liked. “The job security and the ability to have a comfortable life motivated me at first," said Khokhar, who served as a senior accountant at two construction firms and senior auditor at an accounting firm.

India's inclusion in its widely tracked emerging market debt index, BlackRock's head of Asia Pacific fixed income said on Friday. JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion were eligible for inclusion in its Government Bond Index-Emerging Markets (GBI-EM) index and index suite, benchmarked by about $236 billion in global funds. Neeraj Seth, chief investment officer and head of APAC fundamental fixed income at BlackRock, expects inflows of around $20 billion to $25 billion into India after the maximum weight threshold of 10% is achieved on the GBI-EM index. Given the size of the $2 trillion global government bond market, it may add only a little bit to the volatility in Indian bond markets, Seth told the Reuters Global Markets Forum. The volatility would become «more profound and visible» if foreign ownership were to go into double digits, Seth said, adding that he expected foreign ownership of Indian government bonds to rise to 3.0%-3.5% post-inclusion. «I don't think that's significant enough to move the markets around,» he said. Foreign investor buying in Indian bonds has remained tepid with net purchases of $3.4 billion so far in 2023. Foreign investors own less than 2% of outstanding government debt. Separately, Seth believes there will be a shift in asset allocations as markets head into 2024, which he sees becoming a «very attractive year», especially for U.S.

rupee ended higher on Friday after JPMorgan announced it will include the country's government bonds in its emerging market index, which could lead to billions of dollars of inflows. The rupee ended at 82.93 against the U.S. dollar, compared with 83.09 in the previous session. The currency gained 0.3% this week even as the dollar index rose to an over 6-month high in Asia and was on track for its 10th consecutive weekly gain. Importers' dollar purchases capped gains in the rupee after the currency opened at 82.8225 on Friday, traders said. India's inclusion in JPMorgan's index will start on June 28, 2024, and extend over 10 months.

Schroders Plc said it has a way to score sovereign debt that corrects for the rich-world biases inherent in ESG investing.

An advisor team has jumped ship from Citi Private Bank to J.P. Morgan Private Bank having overseen more than $2 billion in client assets.

rupee is expected to gain from the addition of government bonds in the JPMorgan Government Bond Index-Emerging Markets (GBI-EM) index riding on dollar inflows, experts told ETMarkets. India will enter the global bond index with a 10% weight cap and other smaller JPM EM indices in a staggered manner over a 10-month period beginning June 28, 2024. According to market experts, this could prompt around $30 billion of passive inflows. Harsimran Sahni, Executive Vice-president & Head-Treasury at Anand Rathi Global Finance, sees a near- and long-term impact of the move.

emerging market debt index which may cause billions of dollars of inflows into India. As per reports, quoting JPMorgan, India's local bonds will be included in the Government Bond Index-emerging markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds. The inclusion of Indian bonds will start on June 28, 2024, and extend over 10 months with one per cent increments on its index weighting, as India is expected to reach the maximum weighting of 10 per cent, according to JPMorgan.

Muthoot Finance Ltd on Thursday announced its 32nd series of public issue of secured redeemable non-convertible debentures of face value of ₹1,000 each. The issue has a base size of ₹100 crore with an option to retain oversubscription up to ₹600 crore, aggregating to a tranche limit of ₹700 crores. The issue, which opened on September 21, will close on October 6, with an option to close on an earlier date or extended date, as may be decided by the Board of Directors or the NCD committee.

The 10-year benchmark 7.18% 2033 bond yield was at 7.1100% as of 10:00 a.m. IST, after closing at 7.1443%, while the liquid 7.18% 2037 bond yield was at 7.2286% after ending at 7.2606% on Thursday. The yields had eased to 7.0717% and 7.1784%, respectively, earlier in the day. «The wait is finally over.

rupee depreciated marginally to end 2 paise lower at 83.09. Indian government bonds will be included in the Government Bond Index-Emerging Markets index and the index suite, JPMorgan said on Friday.