The Indian currency Rupee against the US dollar rose to highest since November 2015 on increasing outflows from Indian stocks and bonds. The Chinese markets were witnessing selloff and this also resulted in further withdrawal by foreign investors in Indian markets. The net outflow from Indian markets in January so far was at $686.2 million putting more pressure on currency reserves.
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According to analysts, big US banks were caused a multi-billion dollar dent after the selloff in the bond market in the last eight weeks.
Gundlach said that now is the time to buy riskier bonds as the bond market selloff is near to end.
