market-commentary

MARKET COMMENTARY

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A World of Contrasts

Dec 12, 2023

8:44 am

• US economic data regains strength after recent loss of momentum • Fed meets this week but is unlikely to move policy or alter its messaging to the markets • European economic data is weak and gives ECB room to make an earlier-than-expected cut in interest rates • El Nino creates potentially large problems for…

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Macro and Markets Monthly – November 2023

Dec 5, 2023

8:35 am

November 2023 – A Quite Extraordinary Month Comment November was quite an extraordinary month when markets more than reversed the losses for October. We provide additional insights into the happenings in our monthly posted below. The one stand out was the market participants’ firm belief that the peak in inflation and policy rates is firmly…

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Portfolio Commentary

Nov 30, 2023

10:42 am

India’s evolving housing landscape • From a sectoral perspective, Nifty Realty was the best-performing index and the only index to post gains, ending 5% up for the last month. • In our view, this is not a short-term upswing but a structural play in the Indian housing market. • Several factors have led to the…

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No Cold Turkey

Nov 28, 2023

8:50 am

• Extraordinary rally in risk markets over the month • Equities look vulnerable to profit-taking • Complacency evident in the equity market with VIX at 3-year low • US 10-year bond yield looks to have bottomed out ahead of Treasury auctions this coming week • German budget is disarray – eurozone growth at risk The…

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