Bond investors struggle to tell good from bad in India

States have little differentiation in prices.

Sat, Apr 01, 2017 - 5:50 AM

IT'S hard to separate winners from losers in India's burgeoning market for state-government bonds. A recent debt auction saw West Bengal - a state struggling to meet its debt obligations - paying a coupon of 7.64 per cent to borrow for 10 years, the same as Haryana - a northern state that...