Indian Bond Market - An Overview .
Indian Bond Market unlike its peer Equity
Market has been characteristically predictable and measurable. It is especially in context of Bond investor
and Mutual Fund Investor, Who found great value while investing in Bond
Portfolio with measured risk only.
While changing macro variable have thrown
enough challenges for ordinary investor, the professional Fund Manager from
Fund houses and Security houses have summarily prejudged and benefited from the
rally.
Besides a sequential understanding of Macro Obstacle,
it is also imperative for investor to
understand the impact of major policy impact - Monetary and Fiscal on the Bond
Market.
Much have been written on style and functioning
of Monetary managers specially when multiple and non linear macro have led to
sudden and unpredictable change in Policy direction. Mr Y V Reddy in 2008 and Mr Raghuram Rajan
2014 is possible great case study to engage with.
But still the silver line rest with our ability
to measure the Bond Market unlike Equity. While Equity is seemingly
immeasurable, Bond is contrast opposite.
Investors have great return in all these
previous year at A/B/C/D. The moot point whether D still holds value for
investor or the rally is over.