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Time of India
15 hours ago
- Business
- Time of India
US strikes on Iran expected to weaken rupee and bond yields
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: Indian bond yields and the rupee are expected to weaken following Sunday's unexpected US strikes on Iranian nuclear sites, potentially leading to a shutdown of the Strait of Hormuz that is crucial for crude oil supplies to New anticipate the 10-year government security (G-sec) yield to open 3-4 basis points higher than Friday's close of 6.31%, according to CCIL data. The Indian rupee is likely to open around 86.80 per US dollar Monday, about 22 paise weaker than its previous close of 86.58/$ rupee had rebounded on Friday after five consecutive sessions of decline. However, reports of US strikes on Iranian nuclear sites have set the stage for a reversal of that recovery. Further overnight escalation by Iran is expected to drive oil prices higher, which could exert upward pressure on bond would also keep an eye out for the intensity of intervention by the Reserve Bank of India (RBI) in the currency spot market, traders said. "Rupee is expected to open around 86.80/$1 levels, with a good possibility of the currency weakening towards 87/$1 if oil prices go higher," said Ritesh Bhansali, deputy CEO at Mecklai Financial crude futures have surged nearly 18% since June 10, reaching a five-month high of $79.04 on Thursday, according to Reuters. Rising crude prices pose inflationary risks for India, a major importer of oil. "We know yields will open higher on Monday, but we will be able to take a proper position only after assessing oil prices early on Monday," said Vijay Sharma, senior executive VP at PNB Gilts The US strike followed President Donald Trump's earlier statement on Friday that he would delay action against Iran by a week. That announcement had led to a 14 paise appreciation in the rupee, which closed at 86.58 per dollar."Yields would likely open a bit higher due to the unexpected attack, especially after the 'two weeks pause' comment by Trump which triggered the rally on Friday. This rally may unwind, and we can see yields of the most traded 2034 paper around 6.40% levels," said Gopal Tripathi, head of treasury at Jana Small Finance Bank . The 2034 paper had closed at 6.37% on Friday, according to CCIL.
Reuters
6 days ago
- Business
- Reuters
MarketAxess launches electronic trading platform for foreign investors in Indian debt
MUMBAI, June 17 (Reuters) - MarketAxess Holdings said on Tuesday it has launched electronic trading services for Indian government bonds, making it the first platform to give foreign investors direct access to the market. The platform will be interlinked with the Clearing Corporation of India's (CCIL) trading system NDS-Order Matching platform, allowing foreign investors to bid and offer securities directly along with local investors, the U.S.-based firm said. "We expect investors will start to use this platform soon. It will provide direct access to foreign investors and the post-trading tasks will be much more enhanced and efficient," Riad Chowdhury, head of Asia-Pacific at MarketAxess told Reuters. The CCIL did not reply to a Reuters email for comment. "The platform will ease pre-trade eligibility criteria for foreign investors and will speed up the post-trade process and regulatory requirements," Chowdhury said. MarketAxess also provides trading in 29 other emerging market bond markets, and has about 1400 clients using its platform. Chowdhury said that in his experience, electronic trading platforms help boost volumes, and this could be replicated for Indian bonds. "Some emerging markets do benefit from enhancement of trading abilities as clients are incentiveised to trade more because of the liquidity available. I do think clients who are seeking liquidity could enhance volume to an extent." Foreign investors are increasingly trading Indian government bonds since they became a part of JPMorgan's emerging market debt index in June 2024 and Bloomberg's Emerging Market Local Currency Index in January 2025. They have been large sellers of Indian bonds since April, but bought debt worth 1.2 trillion rupees ($13.98 billion) on a net basis under the Fully Accessible Route (FAR) from July to March, when the weighatage of Indian bonds increased to 10% in the JPMorgan index. Most bonds under FAR are part of global indexes. ($1 = 85.8180 Indian rupees)
Yahoo
11-06-2025
- Health
- Yahoo
U of I researchers link bacteria to prostate cancer growth
CHAMPAIGN-URBANA, Ill. (WCIA) — A study 10 years in the making has helped University of Illinois researchers link urinary tract bacteria to prostate cancer. The study was led by Cancer Center at Illinois (CCIL) member and Associate Professor of Animal Sciences Jason Ridlon. Ridlon found that bacteria in the urinary tract can turn corticosteroids, a kind of medicine, into hormones that help prostate cancer grow. Charles Isbell one step closer to assuming role as U of I Chancellor According to the Cleveland Clinic, corticosteroids can treat many causes of inflammation in your body and are a manufactured version of cortisol, a hormone the body naturally produces. Corticosteroids are often prescribed for conditions like lupus, asthma and carpal tunnel syndrome, among other conditions. The CCIL said the researcher's work studying the link between urinary tract bacteria and prostate cancer began in 2015. Ridlon hypothesized that bacteria found in the gut and urinary tract may be related to hormone-driven cancer. 'When we obtained our first isolate that generated androgens, we thought, 'Eureka!' The hypothesis has some plausibility,' Ridlon said. In hormone therapy, also called androgen deprivation therapy (ADT), the number of male hormones, known as androgens, is reduced, to stop them from increasing prostate cancer cell growth. But during the study, the researchers found that bacteria converted drugs used in androgen-deprivation therapy into androgens, which stimulated cancer cell growth. Cancer survivors get together to celebrate National Cancer Survivors Day During the study, the team worked to grow diverse bacteria and secure funding. They identified two bacterial genes (desF and desG) which make hormone-like compounds. And, they found that a hormone called epitestosterone, which once was largely considered to help block cancer, actually caused prostate cancer cells to grow. They also studied a bacteria called Propionimicrobium lymphophilum, linked to prostate cancer, which may help produce androgens. 'Bacteria in our bodies are an overlooked part of our hormone system,' Ridlon said. Joseph Irudayaraj, professor of bioengineering and CCIL Associate Director of Shared Resources, developed the microbial bead technology used in the experiments. UIUC researcher creates technology to detect cancers faster 'When we developed the microbial bead technology, we did not realize the broad impact of its applications,' Irudayaraj said. 'Saeed Ahmad, a bioengineering doctoral student in our team, however, was instrumental in extending the methods to encapsulate anaerobic bacteria in the beads – this formed the basis for all co-culture studies to assess the role of these class of microbes on prostate cancer proliferation.' Now, the team is building on their research. Ridlon's Sterolbiome Lab focuses on how microbes affect steroid hormones, which could help find drugs that block harmful bacterial hormones. Irujayaraj added that the work on prostate cancer can be extended to other hormonal cancers, such as breast cancer. And the researchers said that the team is mapping additional bacterial pathways that metabolize steroids. Initial funding came from the CCIL. The team also received funds from the National Cancer Institute, Prostate Cancer Foundation, and the Department of Defense. Karen Sfanos, a Professor of Pathology at Johns Hopkins University, collaborated with the team on the study. The research was published in Nature Microbiology. You can read more about it here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Time of India
30-05-2025
- Business
- Time of India
RBI's bond buyback, economic growth push yields higher amid rate cut hopes
Yields of the 10-year benchmark climbed four basis points higher at 6.29%, as traders increased bets on a shallower rate easing cycle after Friday's data showed the economy expanded 6.5% for FY25. Many traders now believe the terminal policy rates would be higher - at 5.50%-5.75%. Soon after trading ended, the Reserve Bank of India (RBI) also announced Rs 25, 000 crore of bond buybacks - a measure aimed at infusing durable liquidity in the system. A section of money market traders had factored a terminal policy rate of 5% - 5.25% on expectation that GDP would grow at 6.3%. The repo rate, currently at 6%, is widely expected to be reduced by another 25 basis points to 5.75% in the monetary policy announcement on June 6. Yields of the 10 year bond traded in a five basis point range of 6.24% to 6.29%, with a sharp rise seen in the last half hour of the trade, CCIL data showed. The yield had closed at 6.25% on Thursday. Live Events 'There was a section of the market who anticipated terminal rates at 5% to 5.25%, but with the latest GDP data, the cumulative cut expectations by the RBI has come down. Hence some bonds got sold off, taking yields higher towards the end,' said a senior bond trader at a primary dealership. Traders expect yields to ease next week though, in the run up to the RBI's monetary policy announcement on June 6. The RBI is expected to cut rates by 25 basis points for the third consecutive time. Additionally, the RBI also announced buyback of government bonds worth Rs 25,000 crores on June 5, with an aim to infuse liquidity, and also take down the redemption cost for FY 27. All the bonds that RBI will buy back on June 5 will mature in FY 27.
Economic Times
14-05-2025
- Business
- Economic Times
Rupee steady at 85.33/$ amid oil demand, trade optimism
Mumbai: The Indian rupee ended nearly unchanged from its previous close at 85.33 per dollar on Tuesday, after touching a peak of 84.63 during the day. The rupee gave up its gains amid dollar buying from oil companies, foreign investors and state-run banks, traders said. ADVERTISEMENT The rupee opened at 84.70/$1 versus 85.37 per dollar close on the previous day (Friday). The initial optimism seen in the rupee on Tuesday came on the back of US-China trade agreement and a ceasefire agreement between India and Pakistan. "A key question is what this trade deal means and where Asian currencies will stand relative to China," said MUFG Bank in a note. "This is perhaps most relevant for the likes of India, Malaysia, Vietnam and Thailand, which are most likely to be able to substitute China's exports, and where there are moves to try to strike a trade deal with the US, most notably for India and Vietnam." During the closing hours, the dollar index was at 101.6, while US treasury bill yields dipped to 4.5%.Brent crude oil on the other hand rose to $65.25 per barrel from $60 per barrel seen last week, in response to the US-China trade deal. Rising oil prices is seen as a negative factor for the economy as India is a major importer of the commodity. ADVERTISEMENT Separately, yield on the government bond maturing in 2034 (old benchmark) ended at 6.32%, down 5 basis points from the previous close of 6.37%, while the yield on the new 10-year benchmark bond maturing in 2035, ended at 6.27%, CCIL data showed. Bond yields fell sharply in the last hour of the trade, after consumer price index (CPI) data for the month of April was released. ADVERTISEMENT "The fall in yields at the end of day was because of better than expected inflation numbers," said a bond trader at a primary dealership. India's retail inflation remained below the central bank's 4% target for the third consecutive month at 3.16%, as food prices rose at a slower pace. (You can now subscribe to our ETMarkets WhatsApp channel)
