Emerging Markets | Global | Rates | US
DM Rates Summary
• A hawkish Fed could see 2023 hikes repriced higher.
• US 5y5y real yields remain lower, which suggests 2s10s could flatten further.
EM Rates Summary
• India’s upcoming budget could see large issuance, but also signs of fiscal consolidation.
• Capital gains tax on bond investors could also be scrapped and INR real yields are higher than USD real yields.
• We could see scope for significant flattening in the INR 2s10s NDOIS curve.
DM Rates Summary
• A hawkish Fed could see 2023 hikes repriced higher.
• US 5y5y real yields remain lower, which suggests 2s10s could flatten further.
EM Rates Summary
• India’s upcoming budget could see large issuance, but also signs of fiscal consolidation.
• Capital gains tax on bond investors could also be scrapped and INR real yields are higher than USD real yields.
• We could see scope for significant flattening in the INR 2s10s NDOIS curve.
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