Photo: MintMumbai: Franklin Templeton Investments and other foreign funds are piling into Indian bonds after Prime Minister Narendra Modi’s key election victory. The 10-year yield jumped 46 basis points last month, the most since July 2013, after the Reserve Bank of India unexpectedly signaled an end to its monetary easing cycle. Franklin Templeton Investments bought about Rs8,000 crore of local government bonds in two days last week, a person with knowledge of the matter said. ‘Attractive opportunity’India’s 10-year yield has climbed 19 basis points so far in 2017, after sliding 231 basis points over the last three years. “We are currently at the maximum capacity for rupee bonds.

Source: Mint March 29, 2017 03:22 UTC