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Market move● Neutral for Indian equities
China stocks edge higher as hopes of fiscal support improve sentiment
The brief
- Investors expect government bond issuance to pick up in the fourth quarter
- Local governments used 81% of their special bond quota in the first nine months
- UK finance minister says 'fiscal discipline' will form core of budget
- RBI may shift govt borrowing towards shorter tenures in H2
- Central government employees await a possible 3% dearness allowance hike to 63%
- Govt keeps restraint, H2 borrowing pegged at Rs 7.86 lakh crore
- Lower borrowing plan signals tax buoyancy, offers relief for bond yields