We see rupee devaluing as exports become priority: JM Financial's Manglunia

Manglunia tells Puneet Wadhwa that based on risk appetite, there is a lot of value in select names in 'AA' category and below, which offer excellent carry even in the face of threat of rising rates

The US Federal Reserve (US Fed) hinting at the possibility of tapering its bond buying and hiking interest rates earlier than expected unnerved global financial markets recently. AJAY MANGLUNIA, managing director and head of institutional fixed income at JM Financial, tells Puneet Wadhwa in an interview that based on risk appetite, there is a lot of value in select names in ‘AA’ category and below, which offer excellent carry even in the face of threat of rising rates. Edited excerpts:

The US Fed has unnerved global financial markets. Are they worrying too much?

The US Fed has laid stress on inflation being