Aug 11, 2023 6:39 am
• Global equity momentum continued in July amid supportive US data. • However, several factors could impact the anticipated “soft-landing” scenario. • Global slowdown may impact India’s services exports growth, but currently, India is showing resilience. • Indian Q1 FY2024 earnings so far have slightly exceeded expectations. • Nevertheless, the recent equity rally has further…
Read MoreAug 8, 2023 5:35 am
• US economy and markets struggling with uncertainty • Brazil, meanwhile, shows resilience as interest rates are falling and the economy is in good shape • Emerging market debt has been cheaper but still offers reasonable value • US inflation report this week will likely show still sticky core inflation • Oil prices continue to…
Read MoreAug 3, 2023 10:28 am
In the early part of the month, the financial markets had fretted that global growth bordered on a mild recession. However, several data points from the US brought comfort. A robust sector quarter GDP report and evidence of a rebound in industrial confidence had economists upgrading their 2023 growth forecasts. Inflation is well off the…
Read MoreAug 1, 2023 5:11 am
• US economic data shows much more strength in growth than previously thought • Inflation data has been at the lower end of expectations, but may re-accelerate • A US 10-year bond yield of 4% is a challenge for US equity valuations • European equities look better value after the 10% relative correction • The…
Read MoreJul 25, 2023 6:17 am
• The Fed should raise rates by 25bps and signal that they are not necessarily done • US economic growth appears to be re-accelerating • The ECB to follow the Fed and leave open the possibility of a further rate rise in September • The Bank of Japan is still in two minds about tightening…
Read MoreJul 21, 2023 5:53 am
The Unmissable in Stock Investing • There’s a systematic positive trend in the Indian economy and markets. • India’s pre-liberalisation corporate governance was in a state of disarray. • Liberalisation heralded a new epoch in Indian economics and corporate governance. • The Satyam scandal stirred the nation and necessitated a complete revamp of corporate governance…
Read MoreJul 18, 2023 5:35 am
• Weaker-than-expected US inflation data reduces the risk of further outsized Fed rate increases • The dollar is likely to be under downward pressure as both the Bank of Japan and the ECB remain under pressure to tighten rates • The reduced risk of a higher dollar and dollar interest rates is a boon for…
Read MoreJul 11, 2023 5:14 am
• World temperatures recently have been the highest on record • US labour market strength coupled with likely still-high core inflation has the bond market worried • US equity market looks complacent, but may remain so through a helpful reporting season • Japan’s economy is running hot with strong CAPEX and wage growth Last week…
Read MoreJul 5, 2023 9:11 am
• Fed pauses in June but signals further rate hikes. • A diversified global equities portfolio should form the core of international allocations. • Emerging markets’ valuations looking attractive relative to developed markets. • India's inflation and growth outlook appears favourable in the current global economic context. • Our asset allocation views- neutral equities, overweight…
Read MoreJul 4, 2023 5:46 am
• Central bankers continue to fret about the persistence of inflation • Markets continue to underestimate the likely tightening in monetary policy ahead • US 10-year government bonds look likely to break through the 4% mark • Bank of Japan may have to fight inflation with a little more vigour, which could arrest the weakness…
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