China copper demand surge ๐
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๐ Just as Powell signals rates cuts before inflation comes down to 2%... Source: Bloomberg
nce gold breached that resistance, it kept moving with authority. Are we setting the stage for a similar move in copper? Source: Tavi Costa, Bloomberg
A move that some analysts say will leave it more vulnerable to fickle flows of hot money. The inclusion of India marks the first time the bonds of the worldโs fastest-growing large economy have been included in a major benchmark and is the latest move to open up a once closed-off market. It was only in 2020 that India removed foreign ownership restrictions on some rupee-denominated debt. The inclusion of 28 government bonds worth more than $400bn will give India a 10 per cent share of the widely tracked measure, according to JPMorgan. About $11bn has flowed into Indian bonds as investors position themselves ahead of the formal inclusion, according to Goldman Sachs. The bank expects a further $30bn to arrive as the bonds are gradually incorporated into the index over the next 10 months, raising foreign ownership from around 2 per cent to about 5 per cent. Source: FT Link to the article >>>