Mar 18, 2025 8:06 am
• The dip in equity volatility likely suggests investors are getting used to the unpredictability of US government policy making • Through the noise of US policymaking, it’s important to focus on key macro aspects of growth, inflation, and the dollar • US growth is under some pressure, consensus GDP forecasts are on the slide…
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Mar 11, 2025 9:29 am
• President Trump’s erratic policymaking is taking its toll on growth and markets • It is difficult to see logic in Trump’s tariff actions, which can only increase inflation • Therefore, there is logic in investors switching portfolio allocation to non-US markets • There is logic also in worrying about higher inflation and growth, which…
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Mar 10, 2025 12:15 pm
• India’s macro and valuations are improving, but equities may remain under pressure in the absence of visibility of earnings recovery. • Large-cap valuations appear fair, while mid-and small-cap valuations remain above historical averages despite recent corrections. • Remain underweight on equities, with a preference for large caps. • Overweight gold amid strong central bank…
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Feb 24, 2025 10:09 am
President Trump’s unrelenting stance on tariffs, coupled with deeper cuts to government spending (chainsaw-inspired, as Elon Musk perhaps would prefer), is causing significant disruptions to the US economy. The resulting uncertainty has caused tremendous shock that is rippling through various sectors, leading to market volatility and growing investor unease. The euphoria that followed the election…
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