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MARKET COMMENTARY

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Is it the Blue Wave or the Next Big Short?

Oct 26, 2020

9:13 am

• US long-dated bond yields rise • Hopes for a blue wave – Biden presidency and Democrats taking the Senate • However hopes for a large fiscal package may not warrant a prolonged rise in rates • The oil sector is a stand out underperformer that may have hopes of better times • Market starts…

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Picking Over the Laggards

Oct 19, 2020

9:40 am

• Markets have a positive bias, but global growth has lost momentum • Markets still reluctant to fully discount an emphatic Biden win • A Biden win and a vaccine by the end of year could propel risk markets higher • We search through the serial laggards to see where a bounce is possible •…

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Does the Market Really Need a Vaccine?

Oct 13, 2020

4:13 am

• The markets have made progress of late despite the lack of vaccine approval • Good US service sector suggests a broadening of the recovery • Strong car sales and house purchases add to the confidence • US credit markets benefit from the better news • The risks remain – slow progress on the fiscal…

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Rates Unchanged, But Liquidity Support

Oct 10, 2020

6:14 am

In line with market expectations, the newly appointed Monetary Policy Committee (MPC) in its first meeting today, October 09, 2020, decided to keep rates unchanged, while deciding to maintain accommodative stance for as long as necessary to revive growth on a durable basis. To support the financial markets the RBI announced measures to provide liquidity….

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