卢比再次创下历史新低，美元、美国利率延续涨势。周四，随着美元和美国利率在美国大选后持续上涨，印度卢比可能会跌至历史最低点。

Another day of all-time low for rupee as dollar, US rates extend rally.The Indian rupee is likely to dip to a lifetime low on Thursday in wake of the dollar and U.S. rates extending their post-U.S. election rally.

印度10年期政府债券收益率升至6.85%，延续了自11月8日触及的三周低点6.77%的反弹，当时印度储备银行态度强硬，增长预期疲软。10月份消费者通胀率飙升至6.2%，远高于市场预期的5.8%，一年多来首次超过印度储备银行的容忍区间。因此，市场参与者抹去了印度储备银行今年将降息的头寸，使收益率从最近的低点回升。反过来，押注印度将无法保持7%以上的年增长率，促使投资者重新考虑印度债券今年信贷风险的暴跌。对印度债务的抢购也促使公司增加债券供应，提高了G-SEC的收益率。最后，印度债券收益率因其对美国信贷市场的敞口而上升，因为美国的扩张性财政政策和美联储明年降息减少的前景对全球债券构成压力。

The yield on India’s 10-year government bond rose toward 6.85%, extending the rebound from the three-week low of 6.77% touched on November 8th amid a hawkish Reserve Bank of India and softer growth expectations. Consumer inflation soared to 6.2% in October, well above market expectations of 5.8% to overshoot the RBI’s tolerance band for the first time in over one year. Consequently, market players erased positions that the RBI would deliver any rate cuts this year, lifting yields from their recent lows. In turn, bets that India will not be able to maintain annual growth rates of over 7% drove investors to reconsider the plunge in credit risk that Indian bonds enjoyed this year. The rush to Indian debt also drove companies to raise the supply of bonds, raising yields for G-Secs. Lastly, Indian bond yields were lifted by their exposure to US credit markets, as expansionary fiscal policy in the US and the outlook of fewer rate cuts by the Fed next year pressured bonds worldwide.

BSE Sensex指数周三早盘进一步下跌，收于77691点，跌幅1.3%，为6月下旬以来的最低水平，连续第二天下跌。在30只Sensex成分股中，有27只下跌，其中塔塔钢铁（-3.4%）、马恒达和马恒达（-3.2%）、阿达尼港口（-2.8%）、SBI（-2.2%）、JSW钢铁（-22.2%）和HDFC银行（-2.2%）跌幅最大。只有NTPC、塔塔汽车和印度斯坦联合利华公布了边际收益。下降背后的主要因素是国内通胀担忧、令人失望的企业盈利以及持续的外国资金外流，由于特朗普计划的政策，这种外流可能会加剧。在当地，印度10月份通胀率飙升至14个月高点，抑制了下个月降息的预期。与此同时，交易员在美国通胀数据公布之前持谨慎态度，希望对美联储未来的政策有所了解。

The BSE Sensex deepened early losses to close down 1.3% at 77,691 on Wednesday, its lowest level since late June, continuing its downward trend for the second day. Out of the 30 Sensex constituents, 27 ended lower, with Tata Steel (-3.4%), Mahindra & Mahindra (-3.2%), Adani Ports (-2.8%), SBI (-2.2%), JSW Steel (-2.2%), and HDFC Bank (-2.2%) among the biggest losers. Only NTPC, Tata Motors and Hindustan Unilever posted marginal gains. The main factors behind the decline were domestic inflation concerns, disappointing corporate earnings, and persistent foreign outflows, which could intensify due to Trump's planned policies. Locally, a surge in India’s inflation to a 14-month high in October dampened expectations of a rate cut next month. Meanwhile, traders were cautious ahead of the release of U.S. inflation data, hoping to gain insights into future Fed policy.

在孟买，孟买敏感指数周三下跌849点，跌幅1.08%。塔塔钢铁（-3.47%）、马恒达（-3.44%）和印度国家银行（-2.18%）领跌。

In Mumbai, the SENSEX Index fell 849 points or 1.08 percent on Wednesday. Leading the losses are Tata Steel (-3.47%), Mahindra & Mahindra (-3.44%) and State Bank of India (-2.18%).