Subhadip Sircar, BQ Prime

Subhadip Sircar

BQ Prime

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Past articles by Subhadip:

India Bonds, Stocks Tumble as RBI Raises Rates in Emergency Meet

(Bloomberg) -- Indian bonds tumbled along with stocks after the monetary authority raised its key rate in an emergency move amid rising inflationary pressures and ahead of a Federal Reserve decision. The yield on the benchmark 10-year bond rose as much as 30 basis points to 7. → Read More

Surging Bond Issuance by Indian States Adds to Modi’s Challenges

A relentless increase in bond issuance by Indian states means the federal government will likely have to pay a higher price for Prime Minister Narendra Modi’s record borrowing plans. → Read More

Underwriters Rescue India Bond Sale Again With 2H Plan Awaited

The Reserve Bank of India will again have a tough choice at Friday’s bond sale: Whether to ask underwriters to rescue the sale or allow higher yields. → Read More

Underwriters Rescue India 10-Year Bond Sale Amid Supply Worries

Underwriters rescued a sale of Indian sovereign bonds, the third such instance in five auctions, highlighting the growing anxiety about rising debt supply amid precarious government finances. Primary dealers bought 179.7 billion rupees ($2. → Read More

Bonds Rally in India After RBI Sends ‘Whatever It Takes’ Signal

Sovereign bonds in India rallied after the central bank stepped up measures to crack down on rising yields following a series of weak debt auctions. The 10-year government bond yield plunged 18 basis points, the most since May 13 when a new benchmark was introduced, to 5.93%. → Read More

RBI Snaps Rupee Traders Out of Stupor as Currency Climbs

Rupee traders, lulled into a sense of complacency by the Reserve Bank of India’s massive dollar purchases, are in for a rude awakening as the monetary authority takes a break from defending the currency. → Read More

India Bonds Climb as RBI Resumes Operation Twist to Cool Yields

India’s central bank will resume its Federal Reserve-style Operation Twist to calm rising yields as quickening pace of inflation and heavy government bond supply spark concern. → Read More

RBI Sends Signal to Traders That Bond Yields May Head Higher

Traders of India’s bonds were unnerved after the central bank cued that rising yields are here to stay by offering surprisingly high borrowing costs at a debt sale. The Reserve Bank of India sold a 30-year bond on Friday at a cutoff yield of 6.7596%, versus the 6. → Read More

Bonds in India Drop as RBI Minutes Push Out Rate Cut Wagers

Sovereign bonds in India fell after the minutes of the central bank’s interest rate-setting panel meeting showed its members have turned more hawkish over inflation, pushing back bets on further rate cuts. → Read More

India Bonds Feel Pain With 10-Year Sale Rescued by Underwriters

India’s sovereign bonds fell after data showed retail inflation spiked in July, raising doubts about further easing by the central bank. The yield on the 5.79% bond due in 2030 rose five basis points to 5.95%. → Read More

RBI Keeps India Traders Guessing on Bond Purchases, Again

For the most part, Indian sovereign bonds had priced in the central bank holding rates. It was the absence of guidance on debt purchases and the extent of the economic slowdown that left traders disappointed. The yield on most-traded 5.79% 2030 notes rose four basis points to 5. → Read More

India’s Home Minister, Close Aide to Modi, Has Coronavirus

(Bloomberg) -- India’s Home Minister Amit Shah said he tested positive for coronavirus in a post on Twitter. Shah has been admitted to the hospital on the advice of doctors and asked everyone who he has been in contact with to get tested. ©2020 Bloomberg L.P. → Read More

India Rupee’s Rally Leaves Traders Gauging RBI’s Forex Strategy

India’s rupee hit a three-month high after breaking out of a tight trading band, boosted by strong inflows and expectations that the central bank may be slowing its purchases of dollars. → Read More

Rupee Set to Crash Past Record, Former Reliance FX Head Says

The growth shock to India’s economy from the coronavirus pandemic will trigger more weakness in the rupee, dragging it toward an unprecedented 80-per dollar level. → Read More

India’s Emami Group Sells Solar Business to Canada’s Brookfield

Emami Group sold its solar power business to Canadian investment company Brookfield Asset Management, according to a director at the Indian company. → Read More

In RBI We Trust Is Bond Mantra as India Yields Remain Resilient

India’s benchmark bond yield has fallen back to levels seen before the administration ramped up its annual borrowing target by more than half, as investors bet that the nation’s central bank has more tricks up its sleeve. → Read More

Record Cash Sees India Bond Sale Through Despite Borrowing Spike

India’s first sovereign bond auction since the sharp increase in the government’s borrowing sailed through, helped by record cash in the nation’s banking system. → Read More

India to Take on Offshore Currency Markets Amid Virus Tumult

India is taking its first baby steps to tackle a growing offshore market for its currency. Two exchanges -- India International Exchange (IFSC) Ltd. and NSE IFSC Ltd. → Read More

Flood of Cash With Indian Banks May Prompt RBI to Use New Tool

The Reserve Bank of India is running out of bonds to lend out. With the nation on lockdown, banks have parked an average of 7 trillion rupees ($92 billion) overnight with the RBI in the past week in return for bonds. → Read More

Operation Twist Returns to Send India’s Bond Yields Plunging

The benchmark sovereign bond in India surged after the central bank said it would redeploy a debt operation akin to the Federal Reserve’s Operation Twist. The yield on the 10-year bond dropped 20 basis points, the most since March 27, to 6. → Read More