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Hot Streak of Foreign Buyers for India Bonds Faces CPI Hurdle

“Pickup in foreign bond inflows into India is in line with what we are seeing for other EM bond markets” amid signs of a peak in Fed rates, said Duncan Tan, a currency and rates strategist at DBS Group Holdings Ltd. in Singapore. Looking toward 2023, India bonds could underperform because the RBI’s cycle of rate increases has more room to run amid signs of sticky inflation, he said.

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