India bonds inch lower, joining global debt selloff
The Indian bond market saw a downturn, reflecting a broader global selloff in debt markets. Escalating geopolitical conflicts and soaring oil prices raised inflation fears in India, leading to intensified speculation regarding potential interest rate hikes by the Reserve Bank of India. Additionally, foreign investors experienced their first month of securities outflows in August. Yet, sufficient liquidity in the banking sector helped to stabilize bond demand.
Japan’s 30-year high bond yields, hawkish US Federal Reserve policies, and rising crude oil prices are straining global liquidity. These factors exert pressure on Indian equities, challenging investor sentiment despite India’s resilient 7.8% GDP growth.
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