Global Investors Are Dumping Indian Bonds Like Never Before
- India outflows swell to record while China sees huge inflows
- JPMorgan kept India out of its bond indexes in September
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Even when viewed in isolation, the $14 billion outflow from India’s bond market in 2020 is remarkable: Foreign investors have never sold so much in a single year.
That they did so at a time when Chinese bonds are attracting record foreign inflows underscores just how frustrated some money managers have become with the pace of capital-market reforms by Narendra Modi’s government.