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MARKET COMMENTARY

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Tech Taps the Bond Market

Nov 11, 2025

12:00 am

Global Growth on Track… In the absence of hard US economic data, conviction about global economic growth remains elusive. Yet, as we noted last week, there are signs that global growth is trending in a positive direction. The latest US ISM Services survey came in marginally stronger than expected, providing a sharp contrast to the…

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Macro and Markets Review for October 2025

Nov 6, 2025

12:00 am

Markets ended October in buoyant form, supported by improving growth data and a subtle but discernible easing in global monetary conditions. With inflation broadly contained and policy rhetoric turning less hawkish, investors regained confidence that central banks can now balance growth and price stability. Corporate earnings surprised to the upside in several regions, while liquidity…

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A World of Equals

Nov 4, 2025

5:47 am

• Global growth appears to be accelerating (absent US government data) • Inflation risk will likely keep the Fed on its toes • Asia’s equity markets are no longer the satellites — they are the new poles of confidence • China now stands toe-to-toe with the United States in economic and strategic heft • Japan’s…

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Portfolio Commentary

Oct 31, 2025

12:00 am

Macro resilience | Early earnings pickup visible So far in 2025, markets have been shaped by an earnings slowdown, heightened geopolitical tensions, and rising global economic frictions, including India’s own border challenges. Yet amid these headwinds, the country has displayed notable resilience across key macroeconomic indicators. The September quarter reinforced India’s macro resilience despite global…

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