Abrdn to increase investment in Indian bonds amid index inclusion
Stock market today: Zomato share price hits lifetime high. Experts see IPL 2024 link India's debt market is poised to receive a significant influx of up to $40 billion in fresh capital, with JPMorgan Chase & Co slated to incorporate the nation's bonds into its indexes starting June. Presently, foreign investors hold only a small fraction of Indian debt.
In addition, Bloomberg Index Services Ltd. will integrate select Indian bonds into its emerging market local currency index commencing next year. Bloomberg LP, the parent company of Bloomberg Index Services Ltd., oversees indexes that compete with offerings from other service providers.
Closing at 7.09% last Friday, the benchmark 10-year yield rebounded from a nine-month low of approximately 7% earlier in March. According to a Bloomberg survey of strategists, the yield could further decrease to 6.78% by the end of the year. Overall, Bird expects emerging markets to perform better when the Federal Reserve starts its easing cycle.
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