Life in Gurgaon

With poor demand, traders wary of Modi govt’s Rs 6 trillion bond sales

Source: Hindustan Times

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he government’s near-record bond sales begin in two weeks. The lingering question is who’s going to buy the securities.

While the seven-month sell-off in sovereign notes has spurred state-run lenders — the biggest holders — to stay away, global funds too have soured on rupee debt. With scant signs of buying support from any direction, traders are worried about the fate of the Rs 6.06 trillion ($93 billion) borrowing for the year starting April 1.