World Economy

Sevenfold Jump

Sevenfold JumpSevenfold Jump

Dollar bond issuance by Indian companies surged sevenfold this quarter and global funds still want more, Bloomberg reported. Firms from Asia’s third-biggest economy have raised $3.56 billion since July 1, the most since the period ended March 2015, taking advantage of record-low borrowing costs. The average yield on the debt sank to 3.81% last week and has fallen 59 basis points over three months, faster than declines seen in China, Malaysia and Thailand, JPMorgan Chase & Co. indexes show.