Lowe's Financial News

Global investment bank JPMorgan’s decision to include Indian government bonds into its emerging market bond index is expected to be a game changer for the bond market, and a spillover effect will be seen in debt mutual funds as well. The inclusion in the bond index will channel global passive debt flows in India, as passive funds, by nature, are longer term, says Avnish Jain, head-fixed income, Canara Robeco Mutual Fund. Expectations of large FII inflows due to the bond inclusion and rate hike cycle peaking in both local and global markets should start attracting inflows into debt funds, Jain said. In an interview with ETMarkets, Jain highlighted the significance of the bond inclusion, the inflows outlook, and the asset allocation strategy for debt fund investors. Edited excerpts: Let’s begin with the hot topic today. What changes for India’s bond market with the JPMorgan bond index inclusion? The inclusion in the JPMorgan bond index is a game changer for the Indian government bond (IGBs) markets. While FII investments have been allowed in IGBs for a long time, they were more active and selective in nature, depending on the overall macroeconomic situation as well as relative attractiveness of the Indian debt market within the EM space. The inclusion in the bond index will channel global passive debt flows in India. Passive funds, by nature, are longer term and generally fluctuate only in case of change in weightage in the index.

Malaysia’s government says enough rice is available despite recent panic-buying of locally produced rice that led to empty shelves in supermarkets and grocery stores nationwide

rupee ended 15 paise higher at 83.04 a dollar. Indian financial markets were closed on Monday for a public holiday.

auto stocks will remain in focus with monthly sales numbers. Further, a RBI policy meeting is scheduled this week, which will likely shape the market direction. «Overall we expect the market to trade in a broader range as the higher oil price has rekindled the worry over inflation and might result in a prolonged high interest rate environment,” said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a negative start GIFT Nifty on the NSE IX traded higher by 26 points, or 0.13 per cent, at 19587.5, signaling that Dalal Street was headed for negative start on Tuesday.

Shares of Vedanta are set to remain weak over the medium term, weighed down by concerns of debt liabilities at its parent company, which will outweigh the announced plan to split businesses to unlock value trapped in a holding structure. The natural resources major, last week, announced that it will demerge its existing business into six listed companies, aiming to build a simplified corporate structure, while boosting the valuations of the diversified businesses. While analysts see the move helping the company eventually, they remain sceptical about its impact over the next few months, especially as they also await details of how debt will be distributed among each of the businesses. «While one could argue for a (theoretical) case of multiple expansion on peer-benchmarking, we cite risks of inter-group restructuring, carbon-heavy assets, cash flow burn in new ventures amongst others,» analysts at Investec Capital said in a note to their clients.

Battery-powered mine trucks would haul less ore and spend less time on the road than diesel-fuelled alternatives, delivering a productivity hit of between 19 per cent and 33 per cent to Australia’s biggest export industry.

Rachin Ravindra found the night of July 14, 2019, one of the longest and hardest to endure as he watched New Zealand's heartbreaking defeat to England in the ODI World Cup final sitting in a Bengaluru pub. Ravindra, then all of 19 was on an annual trip to India with his father's cricket club and the roller-coaster experience of watching the final is still etched in his memory. New Zealand losing that final to England on the boundary count-back rule divides opinion to this day.

Met office has warned. «As we go through the week, the high pressure tends to drift further eastwards; we could waft up some warmer air — some significantly warmer air — by the time we get to Friday and in to Saturday,» Met Office forecaster Alex Deakin said. London, the national capital, is expected to approach the mid-20s on Saturday and Sunday.

₹1.59 trillion, up 22.3% from a year ago. “Trader interest (rose) in sync with the heightened volatility," said Anindya Banerjee, vice-president (rupee and interest rate derivatives), Kotak Securities. The rupee closed at 83.04 to a dollar on 29 September compared to 82.18 on 31 March.

Good morning,

Australian coal export sales will fall faster than expected because higher volumes over the next two years will not be enough to offset a 46 per cent collapse in shipment values, official forecasts show.

Unseasonably warm and sunny weather has helped push coal power generation to a new low, further undermining the economics of ageing plants that are being forced to ramp down through the day to avoid losses but are still needed to keep the lights on.

Fuel prices consumers pay at the pump will be driven by a willingness to keep investing in fossil fuels, the UAE's energy minister said on Monday, as oil industry leaders reiterated the need for ongoing investment to smooth the energy transition. Speaking at the ADIPEC energy industry event in Abu Dhabi, Minister Suhail al-Mazrouei said the OPEC+ producer group cares «that the price is right for consumers, but right for the consumers for a very limited time only is short-sighted». More investment is needed in oil and gas for prices to be «right at the pump», he added. When asked whether high crude prices could threaten the health of the global economy, al-Mazrouei said OPEC+ never targets a certain oil price. The group, which comprises the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, in June agreed to extend their oil output cuts until the end of 2024. Saudi Arabia and Russia have also extended 1.3 million barrels per day (bpd) of additional voluntary cuts until the end of the year. That helped push Brent crude prices to above $90 a barrel in early September, with the futures contract last week approaching the psychological threshold of $100 a barrel. OPEC Secretary General Haitham Al Ghais said at the same event that he is optimistic about oil demand growth, and that he saw under-investment as a risk to energy security. «We are… running quite low on spare capacity, we have said this repeatedly, and this requires a concerted effort by all of the stakeholders to see the importance of investing in this industry,» he said. Mazrouei said investment by both international and national oil companies was needed, and that «these investments need the financial world to be willing to

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TORONTO — From ultralow interest rates that led to a huge spike in real estate demand to the speed with which interest rates shot up to levels not seen in a generation, it’s been hard to keep up with the shifting landscape for mortgage borrowers.

By Nirjhar Majumdar

As interest rates are likely to be range-bound or declining, individuals can look at target maturity funds and lock-in at higher yields. Most of these funds at present have a yield-to-maturity (YTM) of 7.3% to 7.5%, which could be a good option for those looking for steady growth on their fixed income investment.

Britain’s Treasury chief is announcing a hike in the national minimum wage

By Rae Wee

An against-the-odds deal to avert a US shutdown is soothing nerves across Wall Street after a week of interest rate-spurred market disruptions. 

Pakistan's inflation rate clocked in at 31.4% year-on-year in September, rising from 27.4% in August, statistics bureau data showed on Monday, as the nation reels from high fuel and energy prices. The country is embarking on a tricky path to economic recovery under a caretaker government after a $3 billion loan programme approved by the International Monetary Fund in July averted a sovereign debt default, but with conditions that complicated efforts to rein in inflation. On a month-on-month basis, inflation climbed 2% in September, compared to an increase of 1.7% in August Reforms required by the IMF bailout, including an easing of import restrictions and a demand that subsidies be removed, have already fuelled annual inflation, which rose to a record 38.0% in May. Interest rates have also risen to their highest at 22%, and the rupee hit all-time lows in August before recovering in September to become the best performing currency following a clampdown by authorities on unregulated FX trade. On Friday, the ministry of finance said in its monthly report that it anticipated inflation remaining high in the coming month, hovering around 29-31% due to an upward adjustment in energy tariffs and a major increase in fuel prices. The report added that inflation was, however, expected to ease, especially from the second half of the current fiscal year that starts on Jan. 1. On Saturday Pakistan cut petrol and diesel prices from a record high, after two consecutive hikes.