Anchored by policy, shaped by liquidity, recast by regulation – factors driving India’s fixed income

India’s bond market today is not being driven by one dramatic headline. Instead, it is being shaped by three powerful undercurrents working simultaneously — a steady central bank, dynamic liquidity management, and structural regulatory change. Together, they are quietly redefining how yields behave across the curve. Let us begin with the anchor: the Reserve Bank…

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PSU bank stocks extend bull run: SBI, Union Bank and others rally up to 22% in 2026 so far

After emerging as top performers in 2025, PSU banking stocks have continued their upward trajectory this year, with investors maintaining a constructive stance on the sector, resulting in a majority of constituents scaling fresh record highs even as the broader market remains volatile. The rally is underpinned by robust December quarter earnings, supported by an…

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Bond yield spike won’t shake PSU banks’ fundamentals; core growth remains key, says Anil Rego of Right Horizons PMS

The government, in the Union Budget 2026, proposed a record gross market borrowing of ₹17.2 lakh crore for the next fiscal year, which came in higher than market expectations. The announcement also sent the yield on India’s 10-year G-Sec to a one-year high on 2 February. Though yields have cooled off in the subsequent sessions,…

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Are rising Japanese bond yields the next challenge for the Indian stock market?

Japanese government bond (JGB) yields rose to their record highs after Prime Minister Sanae Takaichi secured a landslide victory in Sunday’s snap election to the lower house of parliament, strengthening her mandate to pursue expansionary fiscal policies, including higher government spending and tax relief. While Takaichi has repeatedly emphasized that her stimulus measures will not…

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