Goldman backs India 30-year bonds as Iran war impact contained

Goldman Sachs has recommended buying India's 30-year government bonds, citing easing inflation expectations, lower oil prices and reduced fiscal risks after the US-Iran ceasefire. Foreign holdings of index-eligible Indian government debt have surged by about 397 billion rupees ($4.2 billion) so far in June, on track for the biggest-ever monthly purchase. The brokerage noted that India's inclusion in the Bloomberg Global Aggregate Index is increasingly a question of timing, with an estimated weight of around 0.7 percent potentially drawing about $15 billion in passive inflows.