Time to buy Indian bonds as RBI seen on hold, HDFC Standard says
Photo Gallery1 Photo By Bloomberg - Sat Aug 25, 9:44 pm
MUMBAI: The worst may be over for India’s benchmark bond as the nation’s inflation rate has probably peaked, HDFC Standard Life Insurance Co. said in a call against market consensus.
The 10-year bond yield may drop to 7.50% by end-2018, a decline of 37 basis points from current levels, said Badrish Kulhalli, head of fixed income at the insurer, which has 1.1 trillion rupees (US$15.7 billion) under management. Investors will return as confidence grows that the Reserve Bank of India is probably done with further rate increases, he said….