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Stock impact report

Demand for Long-Dated India Bonds to Rise, ICICI Prudential Says [BNN Bloomberg (Canada)]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: BNN Bloomberg
The addition of India to JPMorgan Chase & Co.'s emerging markets bond index will provide a further fillip to the notes as 40% of the selected bonds have maturities of 15 years and above, Vidya Iyer, senior fund manager at ICICI Prudential Life Insurance Co, said in an interview on Bloomberg TV. “Given the kind of growth the real money domestic investors have seen year on year, given the kind of business these investors are in, the demand for long bonds is here to stay,” Iyer said. Upon inclusion, Indian bonds will have the highest duration among the index members at 7.03 years, with yield-to-maturity at 7.09%, according to a recent JPMorgan note. Read: Retirement Funds Deepen Roots in India's Booming Bond Market The market seems to be broadly positioned for India acquiring a 1% weighting in the index starting June 28, said Iyer. However, yields are set to head lower over the long run with structural forces at work, she added. “India is in such a sweet spot, I truly believe Show less Read more
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