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Labouring Markets

Sep 2, 2025

9:06 am

• Markets on data watch • Friday’s US employment report key to pricing of rate cuts • An evolving Tech storyUS consumers under pressure • The strategic rise of the Shanghai Cooperation Organisation Last week US markets swung between optimism and caution, as shifting policy expectations and renewed consumer discomfort made investors jittery. It was…

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The Fed in a Hole

Aug 26, 2025

7:04 am

• Jerome Powell appears to concede defeat and opens the door to a rate cut • However another leg of inflation and employment data comes before the next Fed meeting • The Fed must still fear the impact of tariffs • However political pressure looms large • We fear US yield curve steepening • And…

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Pipeline Trouble

Aug 20, 2025

10:54 am

• PPI shock: US producer prices surged +0.9% MoM, reviving inflation risks. • US equity market stress rising: Leverage at record highs; valuations appear stretched. • US retail resilience may fade: Strong spending, but manufacturing falters. • Powell’s Jackson Hole pivot: We expect an adjustment to Fed communication • Global rotation: Europe, Japan, and China…

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Investment Strategy

Aug 12, 2025

10:54 am

• U.S. strikes trade deals with some partners but escalates tariff pressure on others. • Weak jobs data signals a slowdown in U.S. private-sector economic activity. • Recent escalation of tariffs tensions with US may keep Indian markets volatile, base case for a negotiation to be reached • India Inc. earnings broadly in line, but…

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