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Premium: FIIs Eat Up Their Debt Limit in a 16,000 cr. Mega Purchase (Premium)

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 . . .

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