Evidence of waning appetite for Indian bonds
May 13's treasury bills auction failed; forced purchases made to save an offering 2 days later
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Mumbai
IF this month's US$1.4 billion withdrawal by global funds isn't enough to signal faltering demand for Indian bonds, here's more evidence.
An auction of treasury bills failed for the first time since February on May 13, while underwriters had to rescue an offering of sovereign notes two days later in the first such forced purchases since August. A sale of 2026 government bonds on May 15 saw the least bids as a proportion of debt on offer since they were first sold in November.
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