The bonds are proposed to be listed on both National Stock Exchange and BSE.
A sustained curve inversion, as such a shift is called, would be seen as a sure-fire recession signal; in a normally growing economy, longer-dated borrowing costs are higher than short-term rates.
The circular comes almost two weeks after the Reserve Bank of India permitted FPIs to invest in municipal bonds as a measure to broaden access of non–resident investors to debt instruments in the country.
Indian and Indonesian bonds - the two with highest yields in the region - both received net foreign inflows of $1.7 billion in March.
The report comes amidst increasing regulatory glare on credit rating agencies, especially following the IL&FS bankruptcy, a development caught these agencies by surprise.
NBFCs continued to face higher cost of borrowings compared with AIFs, HFCs and non-NBFCs across all the rating categories.
Janus Henderson said its global macro fixed income team will take over the management of Gross's portfolios.
Vadodara becomes the second city in Gujarat after Ahmedabad early this month, and the sixth municipality in the country after Pune, Indore, Bhopal and Hyderabad (two issuances since 2018) to tap the bond market to raise funds.
Gundlach said the current buy-the-dip mentality reminds him of the complacency that took place in the 2007-2008 credit market right before the great financial crisis.
Brent's 35 percent plunge since October is sending a disinflationary pulse through the world at a time when trade and economic activity are already cooling.
The funds have been raised mainly for business expansion, to support working capital requirements and retire their existing debt.
On Thursday, the 30-year Treasury note closed at 3.35 percent, compared with 3.34 percent on Wednesday.
The 7.17 percent government security maturing in 2028 surged to Rs 96.10 from Rs 95.9275, while, its yield eased to 7.76 percent from 7.79 percent.
Data from central banks and bond market associations showed foreigners sold a total of $1.9 billion of bonds from India, Indonesia, Thailand, South Korea and Malaysia in the last month.
Despite high demand at auction, the price of the August 2016 bond began falling the day it hit the open market, roughly a month after benchmark 10-year yields reached historic lows.
A big concern for years has been that another major world market hiatus would once again expose the vulnerability at the financial system's core, amplifying any global selloff.
Rajiv Mehrishi further said the central bank, in its effort to ensure that banks don't fail, has slowed down giving licences to new banks.
The Economic Survey hinting at "a pause in general government fiscal consolidation" has rattled bond markets, or so it seems. At around 3:00 pm, well after CEA Arvind Subramanian’s presser, bond prices fell sharply, and yields soared to new two-year highs. The new 10-year paper ended at 7.44 percent, the highest since it was issued while the old 10-year paper saw yields surge to a high of 7.62 percent.
The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased.
Shriram City Union Finance (SCUF) today said it will issue bonds on a private placement basis to raise up to Rs 500 crore.
IFC said it helped create the masala bond market through its own first issuance in November 2014.
Government bonds (G-Secs) declined on selling pressure from banks and corporates and the overnight call money rates also ended lower owing to poor offtake from borrowing banks amid ample liquidity in the banking system.
The bond issue will close on July 14. The Government of India may, with prior notice, close the Scheme before the specified period, the RBI said.
Ahead of its proposed merger with parent SBI, State Bank of Travancore (SBT) will raise up to Rs 600 crore to shore up additional tier-I capital by issuing Basel compliant bonds on private placement.
Leading bond fund manager Amandeep Chopra of UTI Mutual Fund believes that the scope for the RBI to slash rates is limited, given a number of global and local factors.