Weekly Macro & Rates Update | 29 Jun – 3 Jul 2026

This weekly macro update covers India’s key economic indicators, money-market and corporate-bond activity, global policy rates, FII investment flows, and commodity price trends.

Weekly Market Recap

India Equity:
– Nifty: +0.89%
– BSE 500: +0.83%
– Persistent Systems announced a €1.3 billion acquisition of Germany’s Nagarro.
– HCLTech secured a $1.14 billion, 5.5-year AI-led digital workplace deal with a European Fortune Global 50 company.

India Debt:
– Aug 2032 10-Year G-Sec: 6.707% (-6.7 bps).
– ICICI Bank plans to raise around $500 million through a US dollar bond issue under the RBI concessional swap window.

Global Equity:
– Dow: +1.97%
– S&P 500: +1.76%
– MSCI World: +2.07%
– OpenAI proposed a 5% stake for the US government in early discussions.
– Uber-backed Lime debuted on Nasdaq at an approximate $1.7 billion valuation.

Global Debt:
– US 10-Year Treasury Yield: 4.490% (+11.9 bps).
– SpaceX raised $25 billion through its inaugural bond sale.

Macro Events

India:
– India allowed four Chinese-linked power equipment manufacturers with factories in India to bid for government power projects for two years.
– Expenditure Finance Committee approved ₹1.25 lakh crore for India Semiconductor Mission 2.0.

Global:
– South Korea announced a 1,800 trillion won investment plan for semiconductors and AI infrastructure by 2035.
– Iran denied reports of planned Doha talks with the United States.