US 10-year yield unlikely to break far above 5%, rupee remains uncompetitive: UBS' Bhanu Baweja

Bhanu Baweja, Chief Strategist at UBS Investment Bank, sees recent FCNR flows as providing the rupee with a temporary reprieve, rather than marking the end of its depreciation cycle. He argues that the currency remains uncompetitive, which could continue to be a headwind for overseas investors and their returns on Indian assets.