Good morning, you're tuned in to Markets Desk.
India's National Stock Exchange is commanding serious attention in global capital markets. The two point three billion dollar IPO has drawn bids exceeding ten billion dollars, putting its valuation multiple above that of Nasdaq. That kind of oversubscription signals deep institutional conviction in India's domestic equity infrastructure story.
Shifting to currency markets, the yen carry trade is back under the microscope. As the Bank of Japan continues its tightening cycle, investors who borrowed cheap yen to chase higher yields elsewhere are facing a painful unwind. Forced selling pressure in that trade can ripple well beyond Tokyo, touching everything from emerging market assets to U.S. equities, so this is one to watch closely.
And at the macro level, the stakes around the Xi-Trump summit are crystallizing. Beijing's most immediate priority is locking in an extension of the current trade truce, but Taiwan, Iran, and artificial intelligence governance are all expected to come up. The outcome will set the tone for global trade policy heading into the second half of the year, and markets will be pricing it accordingly.
That's the tape. Markets Desk, signing off the floor.
