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India pumps in liquidity; bonds see profit-taking after initial rally

MUMBAI: The Reserve Bank of India (RBI) said on Monday it would pump 360 billion Indian rupees ($4.95 billion) into money markets in October, pledging to buy back government bonds as part of a bid to quell fears of a credit crunch cascading through the economy. The latest move came after the government on Friday announced a borrowing target of a gross 2.47 trillion rupees ($34.08 billion), with higher-than-expected earnings from its small savings scheme helping to reduce its borrowing needs by 700 billion rupees. In…

Pakistan raises $2.5 bln by selling long-term bonds

KARACHI: Pakistan on Wednesday raised $2.5 billion from global capital markets after the government issued the five-year Sukuk (Islamic bond) and the 10-year Eurobond at relatively lower rates. It was the first venture into foreign capital markets since the outbreak of major political turbulence in the country. A five-year Sukuk Al-Ijarah and 10-year Eurobond fetched the highest-ever amount for Pakistan in a single such attempt abroad despite unstable political situation in the country. Economists are of opinion…

‘Trump Thump’ whacks bond market for $1 trillion loss

NEW YORK: Donald Trump's stunning victory for the White House may mark the long-awaited end to the more than 30-year-old bull run in bonds, as bets on faster US growth and inflation lead investors to favour stocks over bonds. A two-day thumping wiped out more than $1 trillion across global bond markets worldwide, the worst rout in nearly 1-1/2 years, on bets that plans under a Trump administration would boost business investments and spending while firing up inflation. "We’ve had a sentiment shift in the bond market.…