Asia bond foreign inflows hit four-month low in July on oil shock
In July, foreign investment in local bonds throughout Asia waned, despite a broader global appetite for emerging market debt. Elevated energy prices and economic downturns rendered the region less appealing. While India and South Korea recorded positive inflows, Malaysia and Thailand faced a retreat. Notably, Indonesia's bond inflows plummeted after the unexpected resignation of its central bank governor.
On Thursday, investor appetite for Indian government bonds dwindled amidst fears of increased supply and concerns over RBI's liquidity stance. The results from the treasury bill auction reflected weak demand, driving yields upward. Speculation is building that the Reserve Bank of India may take steps to curtail excess liquidity, preparing for possible policy adjustments as inflationary pressures rise. Market analysts predict interest rate hikes within the next year.
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