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MARKET COMMENTARY

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Investment Strategy

Aug 16, 2024

8:16 am

• Global markets turn volatile amid concerns around Yen carry trade, earnings and Fed actions. • Indian macroeconomic strength also starting to moderate. • We turn underweight Indian equities amid elevated valuations, moderating macro strength, downward earnings revision and unfavourable technical momentum. • We add to gold as its fundamentals are intact. Exercicing Caution It…

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Half-Way Back

Aug 13, 2024

9:31 am

• Markets recover 50% of their dips -equity indices, and bond yield lows. • Economists debate if weather-related issues distorted the labour market data. • A substantial part of the Yen carry trade is unwound • Japanese equities have still to recover as much as global equities and have a following wind of better economic…

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The Fed’s Misstep

Aug 7, 2024

6:24 am

• The US economy is currently experiencing a marked soft spot, with a notable deterioration in the labour market. • The Fed continues to make missteps, having missed an opportunity to cut interest rates this past week. The Fed is yet again being behind the curve with its monetary policy. • Circumstances may force the…

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Macro and Markets Review for July 2024

Aug 5, 2024

9:07 am

As we turned into the year’s second half, the markets finally saw more consistent news of better-behaved inflation. With inflation falling closer to central bank targets, some started to signal that they were at or much closer to the point of cutting interest rates. By the end of July and adding in the first day…

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