Even as bond funds reel under defaults and rating downgrades, the bond market is witnessing a significant change in trajectory. Last week, the central bank cut the repo rate by 25 basis points (bps)—the third straight cut takes the total to 75 bps this year. More significantly, the Reserve Bank of India (RBI) changed the monetary policy stance to ‘accommodative’ from ‘neutral’. Due to the rate cut and shift in stance, the bond market has rallied sharply. What does this mean for investors and how ..
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