A $19 Billion Derivative Bond Trade in India Will Unwind with Modi’s New Tax

A $19 Billion Derivative Bond Trade in India Will Unwind with Modi's New Tax

A derivative trade that boosted demand for India’s sovereign bonds by billions is at risk from a proposed tax, piling pressure on a market straining under record government borrowings.  Analysts say a New Delhi plan to tax high-value insurance policies will reduce demand, leading the industry to cut back on bond investments. For the past […]