India, Eric Lamb, Mci India discussed on Biz 1190 Overnight featuring Bloomberg Radio
Heard explain why is Bloomberg cross asset reporter, Eric lamb one hundred eighty two million, Eric what is it? So we've had a lot of offs in markets, especially cost Asia in the past month or so. But one of the markets picking up India hundred eighty two million dollars is the inflows for the shares MCI India, ETF over the past over the past week. That's the biggest weekly inflow in four years, basically, since two thousand fifteen and it's predicated on. Narendra Modi getting reelected, a little bit of political stability. There is the first premier who's been reelected with a majority since nineteen Eighty-four, and things are looking up for India. Those markets are, of course closed today for the celebration. World took into the upside and emboldened Mody I renewed agenda is there. A one is the scope for dine side risk on the story. Yeah, there's one little interesting. Wrinkle with the India story is the US is basically set to remove the designation of India's a developing nation, June fifth, which is today. And in terms of the actual impact on this, what it means is that some two thousand products that are exported to the US would would have been they were treated as duty free. But now, the they've removed that exemption though the actual dollar impact of that, according to India's actually fairly limited. That's works out to two hundred sixty million dollars a year. So the interest of the impact on the stock market, we haven't seen that pass through yet or, or any kind of concerned, they're necessarily. But it is something to think about, for instance, we have had sex just hit a record earlier this week. Okay. Eric, great to have your perspective this morning on the end market. Let's see whether the growth story really does so dine in India and stop the juggernaut Aragon size and scope. Tracy quick. Snapshot of the markets. Okay. With the S and P rally biggest one day gain since January, the banks roared higher up three and a half percent. Tracy and the market drops stop pause rising in the US. So this little bit of a again, that prescient fear of supply glut. Yes, indeed, the big story, of course remains those bond yields, we have them at multiyear lows for the benchmark ten year just on Monday. Now, we have them floating around the two point eleven Mark has the market gotten ahead of it self when it comes to pricing fed rate cuts, and that is it for this edition of Bloomberg daybreak. Middle East.