The primary debt markets, which saw a test of sentiments of sorts this week, are sending out a message that all is still not well despite recent policy interventions.
If the government securities market continues to sell-off, there is no way the corporate bond market will see buyers. Even if there are buyers, they will ask for higher coupon rates. One needs to see stability in bond markets, especially on the government bond side, which does not seem to be the case right now.Lakshmi Iyer, CIO - Debt, Kotak Mutual Fund.
Other issuers likely to test the market in the next few days include National Housing Bank, National Bank for Agriculture and Rural Development, Adani Ports and Special Economic Zone Ltd., Power Grid Corporation Ltd. and the Housing and Urban Development Corporation Ltd., according to Bloomberg.
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