India’s bond market is signalling that the window for further rate cuts may be narrowing. The spread between the 10-year government bond yield and the repo rate has touched 96 basis points, its widest in two years. Such gaps usually appear towards the end of an easing cycle, suggesting investors see limited room for more cuts. Yields spiked after Prime Minister Modi’s Independence Day announcement of GST 2.0, amid fears of higher government borrowing to offset revenue losses. While Finance Minister Nirmala Sitharaman has reassured that the fiscal deficit target of 4.4% will be met, caution remains. The Reserve Bank’s neutral stance and tariff-related inflation risks have reinforced those worries. Though GST cuts may fuel consumption, bond traders are not yet convinced about their fiscal impact. For now, markets appear to be bracing for a slowdown in rate cuts, even as growth-supportive measures continue. Market Watch📈 Markets extend winning streak! Indian equities rose for the sixth straight session, buoyed by optimism on US trade talks and rising hopes of a Fed rate cut.
Optimism in blue-chip counters helped sustain momentum. 💻📊 Get a headstart on tomorrow’s print edition:CVC Capital to exit Healthcare Global via ₹550 crore block deal iPhone 17 launch to boost Apple India sales, prices largely steady despite US tariff squeeze India-US BTA talks may resume as Trump, Modi signal thaw after tariff tensions After cars and trucks, government initiates work on fuel efficiency norms for two-wheelers Premium readsWhy Niva Bupa is a casualty of GST removal on individual health insurance Law firms ramp up tech, media and telecom hiring amid regulatory churn Karisma Kapoor vs Priya Kapur: Inside the feud over Sunjay Kapur’s estate Is Delhivery’s stock surge backed by fundamentals or just market frenzy? Mint Explainers:How and why is Sebi rewriting India's IPO rule book? Why IPO pops matter less than you think Sneak a PeekLong Story, a much-loved Mint feature, is published every weekday. Before the next piece hits the stands, here’s your exclusive glimpse into what’s brewing on our desk. Catch the story in the morning edition. How India’s richest are fuelling a wealth management frenzyThe top 1% of Indian households hold assets worth an astounding $11.6 trillion, of which around a quarter is in financial assets. That wealth is fuelling a boom in the nascent wealth management industry. Here’s how the common investor can play this premiumization theme. Today in HistoryKumar Shri Ranjitsinhji, the legendary cricketer, was born. Known for revolutionising batting with his leg glance, he played for England and inspired generations. India’s premier domestic cricket competition, the Ranji Trophy, is named in his honour, thus cementing his enduring legacy in the sport. Love a Mint story? Here's how to support it.Do you have a favourite writer at Mint? Every day, we strive to publish stories that need to be told, and your digital subscription makes all the difference. It tells us we’re on the right track and helps us continue delivering the in-depth journalism you rely on. If you’re not yet a subscriber, now’s the perfect time to join! Starting today, many of our staff writers are sharing special, personalized discount coupon codes. So if there's a Mint writer whose work you admire, reach out to them on social media or via email and ask for their unique coupon code! (And if you're already a subscriber, a quick note telling them you appreciate their work would still make their day!) Note: The coupon codes are available only with in-house writers, and not our external columnists. If your request for a code fails, please write to me at siddharth.sharma1@livemint.com. Thanks for reading! Edited by Zaheer Merchant. Produced by Shad Hasnain.
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बुधवार, 10 सितंबर 2025
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