JPMorgan adds India to pivotal bond index - FT中文网
登录×
电子邮件/用户名
密码
记住我
请输入邮箱和密码进行绑定操作:
请输入手机号码,通过短信验证(目前仅支持中国大陆地区的手机号)。如果该手机号尚未注册,将自动创建 FT中文网账号。短信可能需要几分钟送达,验证码15分钟内有效,请耐心等待:
请您阅读我们的用户注册协议和隐私权保护政策,点击下方按钮即视为您接受。
FT商学院

JPMorgan adds India to pivotal bond index

Inclusion expected to drive billions of dollars of inflows in rupee-denominated debt
00:00

{"text":[[{"start":12.17,"text":"JPMorgan will add India to its benchmark emerging-market bond indices, a move that investors expect will attract billions of dollars of inflows to the country’s government debt market. "}],[{"start":24.39,"text":"The inclusion to JPMorgan’s influential indices concludes years of negotiation between banks, investors and India’s government. "}],[{"start":33.81,"text":"It will give investors greater exposure to the world’s fifth-largest economy as providers work to diversify their indices after Russia was removed over its invasion of Ukraine and growth slows in China. "}],[{"start":46.730000000000004,"text":"The US bank will include 23 Indian government bonds worth $330bn into its Government Bond Index-Emerging Markets benchmarks from June 2024. "},{"start":58.634,"text":"The country would have a maximum weight of 10 per cent on the index, said JPMorgan on Thursday. "}],[{"start":65.67,"text":"The resulting inflows into India’s government bond market could reach $25bn-$26bn as investors who track the index rebalance their portfolios, said Madhavi Arora, lead economist of Mumbai-based financial group Emkay Global. "},{"start":82.162,"text":"Goldman Sachs has previously pegged the figure at $30bn. "}],[{"start":88.07,"text":"India bonds and the rupee advanced at the open. "},{"start":91.72399999999999,"text":"The 10-year yield fell six basis points to 7.13 per cent, and the currency rose 0.2 per cent to 82.8 against the dollar. "}],[{"start":102.6,"text":"In the “last two years there has been a lot of demand to the index provider from the investors” for India’s bond inclusion, said Jayesh Mehta, India country treasurer at Bank of America. "},{"start":114.029,"text":"“With China slowing down and Russia being out, the emerging market tracking investors do need something. ”"}],[{"start":121.44999999999999,"text":"In 2020, India’s central bank introduced rupee-denominated bonds that had no restrictions on foreign ownership, paving the way for JPMorgan to add India to its index. "},{"start":133.129,"text":"It said in its announcement late on Thursday that its indices would include only “fully accessible route” bonds. "}],[{"start":140.79999999999998,"text":"JPMorgan is the first major emerging market benchmark provider to add India. "},{"start":146.379,"text":"Bloomberg and FTSE have not included the country. "},{"start":149.909,"text":"India’s economy has outperformed many of its emerging market peers, with the south Asian nation’s Nifty 50 benchmark hitting all-time highs this year. "}],[{"start":160.29999999999998,"text":"Tapping global markets should help New Delhi reduce its cost of borrowing. "},{"start":165.34199999999998,"text":"Yet the downside could be the arrival of active investors who may sell faster than passive tracker funds in a downturn. "},{"start":172.47199999999998,"text":"“That could be painful,” said Mehta. "}],[{"start":175.98,"text":"Some bankers hope JPMorgan’s move will encourage rating agencies to lift their assessment on India — S&P, Fitch and Moody’s all give India their lowest investment-grade rating. "}],[{"start":188.10999999999999,"text":"“Hopefully rating agencies will respect investors’ viewpoint,” said Nilesh Shah, managing director at mutual fund Kotak Mahindra AMC. "}],[{"start":197.21999999999997,"text":""}]],"url":"https://creatives.ftacademy.cn/album/123157-1695380887.mp3"}

版权声明:本文版权归FT中文网所有,未经允许任何单位或个人不得转载,复制或以任何其他方式使用本文全部或部分,侵权必究。

美国的清晨,市场的黄昏

罗奇:美国中期选举结果再令人震惊,也阻止不了经济金融周期的转向。

共和党为特朗普的失败政策付出代价

特朗普承诺增加制造业就业岗位、提高美国本土出生人口的就业率,但这两项承诺都未兑现。

“鲁珀特不想和失败者为伍”:默多克的媒体帝国对特朗普态度转冷

共和党遭遇失利后,福克斯新闻主持人质疑对伊朗战争的战略,《纽约邮报》则在头版刊出“蓝色海啸”。

Lex专栏:美国选民给数据中心建设热潮降温,未必是坏事

美国中期选举结果可能影响45%的数据中心扩建计划,但对投资者而言,这未尝不是好消息。

英国移民改革:有哪些变化?谁受益?

根据周一公布的改革计划,高收入者及其雇主可能从中受益,但英国也可能因此吓退国际学生。

电力的隐秘力量

能源转型并不像人们让我们以为的那样不可能。
设置字号×
最小
较小
默认
较大
最大
分享×