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Investment Strategy

Apr 12, 2024

• The Fed dot plot continues to suggest three rate cuts in 2023, despite persistent inflation. • Crude oil prices are inching higher, a key risk for India and the resurgence of global inflation. • Global equity momentum persists, with Japanese and US equities leading the rally. • The RBI maintained status quo across all…

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A New Realism taking Hold

Apr 9, 2024

• The US employment report shows the economy is running hot • US government bonds take fright as US 10-year yields surge to 4.40% and high-yield bonds show some vulnerability • European and emerging debt markets somewhat decouple from the US trouble • Gold still preferred as a way of de-risking dollar cash holdings •…

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Is This Asia’s quarter?

Apr 2, 2024

• Japanese equities were the star of the just-concluded quarter • US equities, meanwhile, benefitted from strong performances from software, insurance, and energy sectors • As China stabilises, investors wonder if this could be Asia’s quarter • US Treasuries receive good support in the final auctions of the quarter, after some lacklustre performance Japan led…

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A Split View

Mar 26, 2024

• The FOMC is evenly split between those seeing only modest rate Fed rate cuts and those the expecting far more • The market believes the dovish view of a soft landing and reversion of inflation to target • SNB cuts rates – MPC and ECB to follow through the summer • Be careful with…

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