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India's 10-year bond yield dipped to a two-month low of 7.0788% after the country received approval to join JPMorgan's bond index. The rupee gained early to 82.25 per dollar before giving up most of the gain and trading at 82.93.
The index inclusion is expected to draw billions of dollars into local government debt and support the rupee, which lowers the local-currency cost of imports. The effect on feed and grain prices is indirect.
reuters.comNikunj OhriSep 22, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
