Biggest Merger Will Rattle India’s Debt Market as Top Seller Exits
The biggest merger in India’s history is likely to take one of its major issuers away from the rupee bond market, an absence that may weigh on debt sales and deal fees for banks. The consolidation of Housing Development Finance Corp. and HDFC Bank Ltd. will create a financial services giant of more than $200 […]
India’s Currency Dove urges slow hikes as rates approach neutrality
A dove of Indian monetary policy signals. It is time to abandon the aggressive pace of increases in borrowing costs. It says the inflation-adjusted real interest rate is approaching neutral ground. As a result, it will reach a level where it can help control inflation without stifling economic growth. Sticking to larger increases instead carries […]
Three Charts show problems for Indian Stocks approaching a bear market
The rising inflation and the end of easy-money global policies cause Indian stocks to spiral down from all-time highs. This pain is unlikely to end anytime soon. The S&P BSE Sensex index has fallen more than 15% since its October high. It is approaching the 20% loss denoting a bear market. The sell-off comes due […]