French Senate adopts pension bill despite street protests

A contentious bill that would raise the retirement age in France from 62 to 64 got a push forward with the Senate's adoption of the measure amid strikes, protests and uncollected garbage piling higher

DSP Mutual Funds on Thursday launched its first US bond fund, joining the likes of Bandhan, Aditya Birla Sun Life and Axis to offer investors an avenue to invest in US treasuries amid elevated yields and growing rate cut expectations.

The DSP US Treasury Fund of Fund (FoF) will actively manage its allocation across seven US-based exchange-traded funds (ETFs). These ETFs have allocation to papers of varied duration, ranging from one month to 10 years.

"US yields are at an elevated level and are near 10 and 20-year highs. This presents an opportunity for investors to park money at a higher interest rate. Investors also have the opportunity to earn mark to market gain from higher duration portfolio when yields fall," DSP MF said in a release.

The fund house also pointed out that the opportunity for gains from rate cuts is higher in the US, going by the difference in the quantum of hikes.

"The quantum of rate hike in the US has been higher as compared to India; accordingly, the probability & quantum of decline in yields can be potentially higher in the US compared to India," it said.