It Was Sadly Inevitable

Feb 5, 2025

10:56 am

• Trump’s Tariff Strategy It was a foregone conclusion that President Trump would set off a tariff war to address drug and immigration challenges. • Economic Risks Growth faces downside risks, while inflation pressures continue to build. • Fed’s Stance on Rate Cuts: Market expectations for rate cuts are likely to moderate still further, especially…

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Macro and Markets Review for January 2025

Feb 4, 2025

11:08 am

Global growth and inflation trends remain largely unchanged at an aggregate level. However, beneath the surface, growth leadership appears to be shifting from the U.S. to Japan and Europe. The early days of the Trump presidency have unsettled markets, with a flurry of executive orders that face potential legal challenges. Policies such as aggressive immigration…

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Portfolio Commentary

Jan 30, 2025

7:31 am

Reality Check – Are Expectations Running High? The Indian markets saw some correction in the past quarter with mid-and-small caps outperforming the headline indices. The Nifty and Sensex declined by 7-8% in the quarter while the mid-caps declined around 5% and the small caps declined by a much lower 2%. The headline indices posted high…

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Trump Slowly Gets to Work on the Economy

Jan 28, 2025

9:55 am

• Trump’s policies show limited immediate market impact. • No major tariff updates yet, especially in China. • Consumers worry about tightening spending power. • The dollar reflects investor sentiment on policy change and government credibility. • Bank of Japan rate hike signals normalisation, boosting Japanese asset prices • DeepSeek is possibly deep trouble for…

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