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India bond market has a 2018 message for Modi

Wed, Jan 03, 2018 - 5:50 AM

BT_20180103_CFBOND_3245129.jpg
The message for Prime Minister Narendra Modi is clear: in 2018, go easy on the fiscal sauce.
PHOTO: REUTERS

Hong Kong

ONE year ago, India's bond market was riding a wave of unprecedented liquidity. Now it's mired in all kinds of doubts, ending 2017 weaker than Chinese sovereign debt when the opposite outcome would have been more natural. After all, India saw a ratings upgrade by Moody's...

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