Low-Yield Environment: Uridashi Notes and Kaushik Rudra

low-yield environment: The rupee is projected to climb 8.1 percent against the yen by the end of 2017, the most in Asia, according to surveys of analysts by Bloomberg, according to The Japan Times. Pull factors like the improving India growth outlook and relatively attractive yields are driving Japanese investors to such debt, said Kaushik Rudra, Singapore-based head of rates & credit research at Standard Chartered PLC. There are also push factors such as the low-yield environment globally and accommodative monetary policy, he said. The amount of Uridashi notes sold in the Indian currency surged to a record $1.45 billion this year from 105 offerings, making up 6.2 percent of the total issuance, and surpassing Turkey and New Zealand to enter the top five target nations. The fastest growth among the world major economies, Asia second-highest sovereign yields and a stable currency have made India the top pick for several emerging-market investors, including Mark Mobius of Franklin Templeton Investment Funds. Rupee Uridashi issuance this year is almost double the $783 million for all of 2015, with offerings from international lenders including Credit Suisse AG and HSBC Bank PLC. In 2014, the currency accounted for just 0.5 percent of total sales of the securities, which are issued outside Japan and sold directly to the nation household investors. Black Rock Inc., the world largest money manager, has been increasing positions in local bonds. (news.financializer.com). As reported in the news.