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MARKET COMMENTARY

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A Disrupted Year-end

Dec 31, 2024

4:54 am

The markets are experiencing a somewhat uncharacteristic end to the year. The sharp inversion of the US government bond yield curve and the ongoing strengthening of the US dollar, for instance, are reverberating around the global markets. Although the markets’ initial reaction to Trump’s re-election to the White House back in November was euphoric, they…

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A Symbolic Turning Point?

Dec 23, 2024

9:01 am

We extend our warmest wishes of the season to all our readers. We wish you and your families a great holiday season and a happy and immensely successful 2025! The past week could well be remembered as a symbolic turning point for the financial markets and fiscal policy. It highlighted the challenges posed by a…

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Central Banks Challenged with Different Problems

Dec 18, 2024

7:07 am

• The Fed will likely cut rates this week by 25bps but may make next year’s cuts in interest rates more conditional • The market expects the Fed to signal that the ‘normal’ level of policy rates are drifting higher • The recent move higher in the US 10-year shows the market’s concerns about debt…

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Investment Strategy

Dec 17, 2024

10:21 am

• Mr. Trump’s policies likely to drive the US and Global economic landscape, influencing the market outlook for 2025 • India’s GDP numbers confirm slowing economic growth, however, a pick-up in government capex could revive economic activity in the coming quarters. • Correction in the Indian equity market aligns with EPS downgrades, keeping valuations expensive….

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