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MARKET COMMENTARY

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Now What?

Sep 24, 2024

6:40 am

• The Fed makes a good start to the rate cutting cycle, trimming rates by 50bps • The peaking of US policy rates often means trouble ahead; we hope this time is different • US inflation is certainly in abeyance but not totally beaten • Asian and emerging equity markets offer good upside as they…

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The Fed’s Close Call

Sep 17, 2024

7:44 am

• We are hopeful that the Fed will deliver a 50bps rate cut, if not the market will likely be disappointed • A new Fed ‘dot plot’ should forecast a steady drop in policy rates over the coming 15 months • The Bank of Japan to signal further rate rises, but no move likely at…

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Investment Strategy

Sep 19, 2024

8:53 am

• US Fed actions continue to be in focus for global markets. • US Jobs data is being revised downwards, and US bankruptcy filings have increased. • India’s economic growth remains resilient and increase in capacity utilisation suggests that private capex should also pick up soon. • We are gradually underweighting equities and prefer large…

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We Need Central Banks to Step on the Gas

Sep 10, 2024

1:02 pm

• Investors fret that US economic data does not emphatically push the Fed to provide a 50bps rate cut this month • Marked profit-taking in the equity markets suggests that investors want to see an acceleration of monetary easing • A slow pace of monetary easing is a concern for many who worry about the…

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