Bank of America's Top India Trader Says Swap Market Too Hawkish [Yahoo! Finance]
Bank of America Corporation (BAC)
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Source: Yahoo! Finance
(Bloomberg) -- Indian rates traders have pushed back expectations for an interest-rate cut way too far and that creates an opportunity in the swaps market, according to Bank of America Corp. Most Read from Bloomberg Taylor Swift Is Proof That How We Critique Music Is Broken Tech Giants Roar as Tesla Spikes in Late Hours: Markets Wrap Tesla Stock in ‘No Man's Land' After 43% Rout Ahead of Earnings Biden's New Chopper Is Demoted After Scorching White House Lawn Ray Dalio's Famous Trade Is Sputtering, Investors Bailing The Reserve Bank of India is likely to cut the key policy rate by 100 basis points in the next two years, while interest rate swaps are not pricing in any cuts at all during the period, Vikas Jain, head of India fixed income, currencies and commodities trading, said in an interview. Traders are putting too much emphasis on geopolitics and not enough on easing price pressures locally, he said. “The market has priced out any rate cut for the next two years b
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