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The Illusion of US Resilience

Feb 16, 2026

11:34 am

• US data looks solid, but credibility is deteriorating beneath the surface • Inflation is cooling, though core pressures and tariff passthrough risks remain • Equity leadership is rotating firmly away from mega-cap concentration • Asia is executing decisive policy while Western markets drift US economic data continues to look solid on the surface, yet…

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Rotation

Feb 10, 2026

6:23 am

• Leadership is broadening as investors rotate away from US mega-cap concentration. • Technology is becoming more selective, with dispersion replacing blanket AI trades. • Ex-US markets, led by Japan, are attracting incremental capital flows. • Gold remains portfolio insurance despite near-term profit-taking. Markets are no longer driven solely by size, but by how swiftly…

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Investment Strategy

Feb 6, 2026

11:09 am

• India’s 2026 budget met muted expectations and was broadly market neutral. • The subsequent U.S.–India trade deal announcement could be a key near-term catalyst for markets. • While details are scarce, the deal may help stabilise the rupee and revive FII inflows. • Improving fundamentals, now reinforced by better sentiment post the deal, are…

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Time to Draw a Breath

Feb 4, 2026

6:35 am

FOMC Meeting and Broader Central Bank Context After last year’s frenzy of rate cuts, 2026 has started in a more nuanced way. Last week’s FOMC meeting confirmed that the Federal Reserve has transitioned beyond the cycle of consecutive rate cuts to a “show us why we should cut” phase, where its decisions will be guided…

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