Bank of America's Top India Trader Says Swap Market Too Hawkish

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Bank of America's Top India Trader Says Swap Market Too Hawkish

(Bloomberg) -- Indian rates traders have pushed back expectations for an interest-rate cut way too far and that creates an opportunity in the swaps market, according to Bank of America Corp.The Reserve Bank of India is likely to cut the key policy rate by 100 basis points in the next two years, while interest rate swaps are not pricing in any cuts at all during the period, Vikas Jain, head of India fixed income, currencies and commodities tradin…