0431 GMT - India's inclusion in FTSE Russell's Emerging Market Government Bond Index may not directly translate into significant passive inflows into the country's bond market, Goldman Sachs strategists say. While it's hard to gauge the expected flow impact from the inclusion, passive inflows are unlikely to be sizable as the AUM is likely very moderate, they write in a note. Still, GS thinks the broader improvement in market access as well as trading/settlement procedures will draw inflows organically, drawing in foreign investors. "India is a large and deep bond market for EM," GS says, adding that the rupee offers an attractive carry-to-volatility profile versus peers and that the Reserve Bank of India will likely start its easing cycle soon. GS retains a long INR two-year bond trade recommendation. (fabiana.negrinochoa@wsj.com)
(END) Dow Jones Newswires
October 09, 2024 00:31 ET (04:31 GMT)
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