Indian Funds Sell Record 356 Billion Rupees in Bonds

Mutual funds in India have sold government bonds at a record pace in March as the conflict involving Iran drove up oil prices and heightened inflation risks. This market shift has pushed the Indian rupee to record lows and prompted a broad selloff across the debt market, leading asset managers to pivot toward short-duration corporate debt. Mutual funds have net sold government bonds worth 356 billion rupees ($3.82 billion) so far this month, a record for any single month according to clearing house data.