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The expected reduction in interest rates has been delayed, which is different from what was anticipated earlier this year. Experts now predict a slower and less substantial decrease. This has consequences for bond market investments.
The borrowing is lower as “the government may spend less as we are in election season and the code of conduct is in place,” said Debendra Dash, a trader at AU Small Finance Bank. The borrowing plan accounts for 53% of its full-year target of Rs 14.13 trillion, lower than the 55%-60% the government typically borrows in the first half.
The benchmark 10-year bond yield closed lower at 7.063% Tuesday from the previous close of 7.0968%, while 13 state governments collectively sold more than Rs 28,000 crore of bonds.
Quantum Multi Asset Allocation Fund is already open for subscription, whereas Parag Parikh Dynamic Asset Allocation Fund, and Mahindra Manulife Multi Asset Allocation Fund will open on February 20.
Quantum Mutual Fund on Monday launched Quantum Multi Asset Allocation Fund, an open-ended scheme investing in equity and equity-related instruments, debt and money market instruments, and gold-related instruments.