A consolidated view of market events, assembled from diverse sources.
PB Money is targeting a ₹100 crore monthly run-rate for combined bond and mutual fund investments by March 2027, building on its recent SEBI licence for bond platform operations. The company's bond platform has already achieved ₹20 crore in investments in just its second month of operations, with management expecting non-credit products to contribute 30% of revenue within two years.
Indian government bond yields edged lower on Thursday with the benchmark 2036 bond yield falling 2.5 basis points to 7.3714%, recovering from three-year highs as traders reduced risk ahead of a major debt auction and RBI's tighter liquidity measures. The recovery comes amid rising inflation concerns with wholesale inflation at 11.39% and expectations of continued monetary tightening, while the rupee strengthened to 95.16 per dollar supported by RBI's forex measures.
The AI investment boom is creating a debt glut that may push up US government borrowing costs as investors demand higher yields from hyperscaler lenders, while Fed officials warn AI investment booms are fueling persistent inflation and aggregate overheating. With hyperscaler debt issuance reaching $800 billion this year and projected to exceed $1 trillion annually, bond investors are showing skepticism toward AI debt performance, with many new hyperscaler bonds trading wider within six months of issuance.
Japanese government bond yields fell to one-month lows on Thursday as investors sought safe-haven assets following a global equity selloff triggered by hotter-than-expected US inflation data. The benchmark 10-year JGB yield dropped 6.5 basis points to 2.93%, while the 30-year yield fell below 4% for the first time since September 10, as concerns about AI-related investments and potential US rate hikes drove demand for safer assets.
IBL Finance Ltd has proposed a ₹50 crore NCD public issue with yields up to 12.12% per annum, comprising a base issue of ₹25 crore and green shoe option of ₹25 crore. The issue opens on October 12, 2026, and closes on October 26, 2026, with proceeds intended for onward lending and existing borrowing repayment.
SMC Global Securities Limited closed its ₹150 crore NCD issue on October 9, 2026, a week ahead of schedule due to strong investor demand. The company launched the secured, rated, listed debentures with a base issue size of ₹75 crore and Green Shoe option, while its shares traded at ₹108.73, down 1.37% but delivering over 53% returns in the past year.
Private credit yields in India are compressing as competition intensifies, with 67% of deals now priced below 18% compared to 80% above that level in 2023. Despite this yield pressure, deployment has declined 54% to $4.6 billion in H1 2026 from record levels in 2025, while regulatory changes including bank acquisition financing and ECB liberalization are expanding the competitive landscape.
Indian government bond yields surged to a three-year high of 7.31% on Friday, driven by concerns over persistent inflation, tighter liquidity conditions, and the Reserve Bank of India's aggressive open market operations. The RBI's hawkish policy stance, including a 25 basis point repo rate hike to 5.50% and plans for ₹25,000 crore OMO sales, has prompted markets to price in further rate increases with terminal rates potentially reaching 6.25%.
The Reserve Bank of India raised the repo rate by 25 basis points to 5.5% on October 7, marking the end of a 43-month pause in rate hikes and the beginning of a new tightening cycle. The decision was driven by rising inflation from 3.4% in March to 4.8% in August, with core inflation excluding food and fuel increasing to 4.2%, while the RBI simultaneously raised its FY2027 GDP growth forecast to 7.1%.
Delhi International Airport Ltd (DIAL) successfully raised ₹3,500 crore through 15-year NCDs at 8.71% coupon to refinance its $522.6 million dollar bonds due in October 2026. India Infrastructure Finance Company emerged as the largest investor with ₹1,426 crore subscription, while the proceeds will be used for full redemption of the existing dollar notes and to meet refinancing obligations for future maturities.