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Christopher Wood christopher.wood@clsa.com +852 2600 8516<br />
Figure 8<br />
India 10-year government bond yield and rupee/US$ (inverted scale)<br />
9.5 (%) India 10-year government bond yield<br />
Rupee/US$ (inverted scale, RHS)<br />
9.0<br />
8.5<br />
8.0<br />
7.5<br />
7.0<br />
6.5<br />
6.0<br />
Jan-14<br />
Mar-14<br />
May-14<br />
Jul-14<br />
Sep-14<br />
Nov-14<br />
Jan-15<br />
Mar-15<br />
May-15<br />
Jul-15<br />
Sep-15<br />
Nov-15<br />
Jan-16<br />
Mar-16<br />
May-16<br />
Jul-16<br />
Sep-16<br />
Nov-16<br />
Jan-17<br />
Mar-17<br />
May-17<br />
Jul-17<br />
Sep-17<br />
Nov-17<br />
Jan-18<br />
Mar-18<br />
May-18<br />
Jul-18<br />
Sep-18<br />
Nov-18<br />
58<br />
60<br />
62<br />
64<br />
66<br />
68<br />
70<br />
72<br />
74<br />
76<br />
Source: CLSA, Bloomberg<br />
Figure 9<br />
Cumulative foreign net buying/selling of Indian debt securities (year-to-date 2018)<br />
4<br />
2<br />
0<br />
(2)<br />
(4)<br />
(6)<br />
(8)<br />
(US$bn)<br />
Foreign net buying/selling of Indian debt securities<br />
(10)<br />
Jan 18<br />
Feb 18<br />
Mar 18<br />
Apr 18<br />
May 18<br />
Jun 18<br />
Jul 18<br />
Aug 18<br />
Sep 18<br />
Oct 18<br />
Nov 18<br />
Source: CLSA, Bloomberg<br />
Figure 10<br />
Bank Indonesia policy rate and Indonesia CPI inflation<br />
9<br />
8<br />
7<br />
(%) BI 7-day RR rate<br />
CPI inflation %YoY<br />
Core CPI inflation<br />
6<br />
5<br />
4<br />
3<br />
2<br />
2012 2013 2014 2015 2016 2017 2018<br />
Source: CLSA, CEIC Data, Bank Indonesia<br />
Thursday, 22 November 2018 Page 5
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