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Bloomberg reports that the RBI's unexpected three-year dollar-rupee swap caught India's currency, sovereign debt and credit markets off guard. The article questions whether the tool is sound during an election year.
Uncertainty about the RBI's liquidity tools can move the rupee and Indian bond yields. Feed-market effects are indirect.
bloomberg.comAndy MukherjeeMar 18, 2019Not 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.
