Saturday, September 22, 2018 06:20:17 PM

Time to buy Indian bonds as RBI seen on hold, HDFC Standard says

Photo Gallery1 Photo By Bloomberg - Sat Aug 25, 9:44 pm

Pedestrians walk along a road as residential and commercial building stand on a hillside in Coonoor, Tamil Nadu, India. (Bloomberg pic)

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….

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