Live Breaking News & Updates on Sundaram Asset Management Co
Stay updated with breaking news from Sundaram asset management co. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Prime Minister Narendra Modi s smaller-than-expected poll victory is causing concerns among bond investors about increased populism. The election results shocked traders, leading to a selloff in Indian assets. ....
Credit markets are sounding warnings for other asset classes amid India’s unprecedented surge in Covid-19 cases. Firms have defaulted on at least Rs 5,700 crore ($763 million) of domestic bonds this year, the most on record for a similar period. Traders expect more. They’ve pushed spreads on A rated local corporate bonds over AAA notes to a 17-year high, a grim sign for the small businesses that tend to have those weaker ratings and that form the bedrock of the $2.7 trillion economy. That all suggests the need for further caution in the equities and government bond markets, which have held up better despite volatility. While the defaults are largely among smaller, often unlisted borrowers, they add to challenges for policy makers already grappling with one of the world’s worst bad debt ratios. On top of that, the Covid outbreak risks fanning inflation as local curbs disrupt supply chains, threatening to limit central bank options for juicing the economy. ....
Record defaults are clouding India’s resilient equities, bonds Bloomberg April 28 | Updated on April 28, 2021 × Firms have defaulted on at least $763 million of domestic bonds this year, the most on record for a similar period Credit markets are sounding warnings for other asset classes amid India’s unprecedented surge in Covid-19 cases. Firms have defaulted on at least 57 billion rupees ($763 million) of domestic bonds this year, the most on record for a similar period. Traders expect more. They’ve pushed spreads on A rated local corporate bonds over AAA notes to a 17-year high, a grim sign for the small businesses that tend to have those weaker ratings and that form the bedrock of the $2.7 trillion economy. ....
India sees record corporate bond defaults amid Covid-19 crisis straitstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from straitstimes.com Daily Mail and Mail on Sunday newspapers.