Treasuries Surge As Buyers Rush In After Global Bond Rout

India’s lenders, struggling with $210 billion of stressed assets, are under pressure to clean up their books as Prime Minister Narendra Modi attempts to restore loan growth in Asia’s third-largest economy. The country is closing in on Italy for the dubious distinction of having the worst bad-loan ratio among the world’s major economies. Bad loans at lenders are set to climb to a near two-decade high, by the central bank’s own estimates, underscoring the magnitude of the task.

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