- Wealth PMS (50L+)
FIIs just bought a truckload of debt. And by a truck load, we mean the kind of truck that can carry Rs. 16,000 crores.
In one fell swoop on the 20th of August, FIIs have exhausted their spanking new $25 bn limit.
This purchase has been the biggest for a long time. Looks like Indian debt got suddenly attractive:
Now, since FIIs can’t buy short term debt anymore (minimum residual maturity of 3 years), they can’t touch T-Bills, Commercial Paper or any debt that matures before 2017. So, almost all of the . . .