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A Wake Up Call from the Fed

Sep 26, 2023

• US Fed signals the need for further tightening and the persistence of high rates • US 10-year government bond yield is still vulnerable to spiking to as high as 5% • With the Central Bank of Brazil in easing mode, Latam debt remains well supported • Bank of Japan on hold, but may be…

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Portfolio Commentary

Sep 21, 2023

• The trend in PSUs and business-to-government (B2G) sectors like defence and railways has surprised the investing crowd. • It’s essential to realise the importance of “newness” in investing. • Investors have traditionally ignored the newness factor in emerging themes. • History is replete with examples of how the evolution of humankind has happened because…

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Policy Makers Still Hard at Work

Sep 20, 2023

• Fed to leave rates unchanged, but signaling is evident that its job is not done • ECB raises rates by 25bps and signals rates to stay high for some time • Government bond yields pushing higher – oil prices a risk • China gives us some good news but foreign investors show little appetite…

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Investment Strategy

Sep 18, 2023

• Global equity momentum moderated in August amid weak economic data. • US economy is showing resilience, but conflicting data continues to emerge. • Eurozone is at a greater risk of recession as it faces stagflation. • Indian fundamentals strong; risk likely to emanate from global factors. • We look at add equities on dips;…

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