HALISTER: Templeton Said to Buy About $1.2 Billion of Indian Bonds

Templeton Said to Buy About $1.2 Billion of Indian Bonds

(Bloomberg) -- Franklin Templeton Investments bought about 80 billion rupees ($1.2 billion) of Indian government bonds in two days this week, a person with knowledge of the matter said.
  • The purchases, made on Tuesday and Wednesday, were largely for tenors maturing in 2021-2023, said traders who asked not to be identified because they aren’t authorized to speak publicly
  • JPMorgan Chase & Co was the broker which bought the bonds, the people said, who asked not be named as the information isn’t public.
  • NOTE: Foreign banks have net purchased more than 95 billion rupees of Indian bonds on Tuesday and Wednesday
  • Yield on 10-year govt bond rises 1bps to 6.82%; fell 8bps in the past two sessions
  • Franklin Templeton spokeswoman Melissa Tan and JPMorgan’s India spokeswoman Mollica Senapati both declined to comment

Alert: HALISTER
Source: BFW (Bloomberg First Word)

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