Page 7 - Bond Market

Ambani's Reliance Industries considers record $1.8 billion bond sale

The transaction, if it concludes, would be the biggest rupee sale ever for Reliance, Bloomberg-compiled data show. It would also be the conglomerate's first domestic bond since 2020

India govt bond yields edge lower as crude oil prices, US peers drop

The 10-year benchmark bond yield closed at 7.3408% after ending at 7.3769% in the previous session

Indian govt benchmark bond yields ends higher, tracking their US peers

The 10-year benchmark bond yield closed at 7.3769%, after ending at 7.3626% in the previous session

Weekend Bites: More trouble in IT paradise, RBI's plans, and taxing expats

In which we munch over the week's platter of news and views

RBI to conduct open market bond sales to absorb durable liquidity

Core liquidity surplus includes the government's cash balances held with the central bank

Banking system liquidity bounces back to surplus after three weeks

The RBI Governor, Shaktikanta Das, had said on Friday that the central bank might conduct open market operations to mop up excess liquidity

Israel stock and bond markets sink, businesses shut after Hamas attack

Gaza militants also fired thousands of rockets into Israel, some reaching as far as Tel Aviv, prompting airlines to suspend flights to and from Israel

RBI raises guardrails ahead of global index inflows, may sell bonds

The inflows will add to the RBI's challenge of keeping liquidity on a leash even as it may need to buy dollars to prevent a sharp appreciation in the rupee

Global bond selloff upends markets as long term borrowing costs surge

Traders are bracing for an extended period of tight monetary policy, and demanding ever higher compensation to hold long-dated government debt

New quarter, same struggles for stocks, bonds and currency markets

A opening move higher from the pan-European STOXX 600 quickly gave way in the face of some weak PMI data, denting traders' hopes for its first three-session run of back-to-back gains

BNP Paribas upbeat on India bonds on JPMorgan inclusion, sees $20 bn inflow

The benchmark 7.18% 2033 bond yield was trading at 7.23% on Thursday, after hitting a two-month low of 7.07% last Friday in the immediate reaction to the inclusion news

UBS Group takes lead in $50 billion bond market left by Credit Suisse

The biggest winner in this market from the March demise of Credit Suisse - the leading arranger of Swiss franc bonds for most of the last 20 years

Government bond and forex market to remain open on Thursday, Friday

The auction of government-dated securities scheduled on Friday, will now be conducted on Thursday, with settlement on Friday

Goldman Sachs splits with regulators on risk that basis trade poses

The cash-futures basis trade by some measures is as big as it was in 2019 and early 2020, when the onset of the pandemic sparked a rush for the exits that required a bailout by the Fed

JPMorgan adding Indian bonds will see public finances scrutinised

Foreign exchange reserves, which are higher than last year, and the credibility of the regulators will work in favor of the South Asian country, CIO SBI Funds said

Govt considers financial creditor status for insurers issuing surety bond

To make surety bond business more attractive, the government is looking at making relevant changes in the Insolvency and Bankruptcy Code (IBC) to consider insurers as financial creditor in case of default of infra projects. The surety bond issued by a general insurance company is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee). The surety is a company that provides the financial guarantee to the obligee (usually a government entity) that the principal (business owner) will fulfil their obligations. According to sources, the Ministry of Corporate Affairs is looking into concerns raised by the insurers that they should have recourse to recovery on par with the banks as forwarded by the Department of Financial Services under the finance ministry. The department is examining the issue and after careful examination, relevant changes would be made in IBC to provide financial

JP Morgan boost: PNB Gilts zooms 20%, hits 52-week high on heavy volumes

A combined 27.85 million shares, representing nearly 60 per cent of free-float equity of PNB Gilts, have so far changed hands on the NSE and BSE

Sebi removes penalties on cos unable to meet mandatory bond mkt borrowing

The regulator said it would grant more flexibility to large companies for incremental borrowing via bonds

Take advantage of surety bonds: Irdai Chairman to infra stakeholders

Irdai Chairman Debasish Panda on Tuesday urged stakeholders in the infrastructure sector to take advantage offered by surety bonds, which complement bank guarantees needed for large scale funding. Surety bond is a type of insurance policy protecting parties involved in a transaction or contract from potential financial losses due to a breach of contract or other types of non-performance. He was speaking at a roundtable organised by Confederation of Indian Industry (CII) and The Infravision Foundation (TIF) on the financing of infrastructure projects in the country as part of the massive push to the sector by the government by allocating Rs 10 lakh crore towards it in the Union Budget 2022-23. The chairman of Insurance Regulatory and Development Authority of India (Irdai) pointed out that India is expected to spend approx Rs 100 lakh crore on infrastructure through the National Infrastructure Pipeline in the next five years. This requires bank guarantees of approximately Rs 90 lakh

Benchmark 10-year yields approach August highs as oil prices gain

Oil prices increased on Tuesday for a fourth consecutive session, raising fears that higher commodity prices will keep price pressures elevated