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Sovereign bonds face barrier as debt-ridden PSBs sell into every rally

Public-sector banks have cut holdings by a net Rs 312 billion this quarter, even as sovereign bonds are poised for their first quarterly advance in more than a year

India’s sovereign face a conundrum. Every rally hits a wall of selling as the nation’s state-owned lenders, the biggest holders of debt, head for the exit.

Public-sector banks have cut holdings by a net 312 billion rupees ($4.4 billion) this quarter, even as sovereign are poised for their first quarterly advance in more than a year.



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First Published: Mon, November 19 2018. 13:00 IST
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