Mumbai
FOREIGN investor holdings of Indian corporate bonds have slumped to a 19-month low, despite world-beating economic growth and yields close to 8 per cent. That's a situation that may not last in a planet being taken over by negative interest rates.
Overseas funds had used about 65 per cent of their overall US$51 billion cap for corporate debt holdings as at Aug 24, down from 73 per cent at the start of the year and the lowest since January 2015, according to data from National Securities Depository Ltd. Top-rated 10-year company notes in India pay 7.84 per cent, compared with 3.46 per cent in China. Those rated AA have a yield of 8.4 per cent.
"India is an irresistible destination for foreign...
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