MUMBAI: It’s getting increasingly hard for strategists to stay bullish on Indian bonds after the longest rally since 2003.
Even as a banking system awash with cash continues to spur local demand for sovereign notes, Citigroup Inc sees gains fizzling out in the second half of 2017 as the central bank’s monetary easing cycle draws to a close. Standard Chartered Plc expects a pick-up in inflation to spur bond losses in the July-December period, while Societe Generale cites rising US yields as a key external threat for emerging Asia’s best-performing local-currency debt.
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