The recent demonetisation announcement coupled with Donald Trump’s presidency shook the Indian markets. While equity markets tumbled (Nifty fell by 7-8%), bond markets rallied, with the 10-year government security (g-sec) yields dropping by almost 50 basis points (bps) in the 9-21 November period and hence, bond prices moved up by almost 3-4%.
India will be superpower by 2047, but not high-income economy: Martin Wolf
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