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Investment Strategy

Dec 12, 2025

9:51 am

• A benign inflation environment provided the RBI room to cut rates in the December policy meeting. • With supportive policy, India’s economic activity and corporate earnings should improve in the coming quarters. • We remain neutral on Indian equities as earnings have stabilised and valuations have partly moderated. • The U.S. job market is…

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The Bond Markets Get Real

Dec 9, 2025

12:00 am

The sharp rise in US and Japanese bond yields last week is another sign of tougher times ahead for bond markets. The week saw US 10-year treasury yields surge 12 basis points (bps) to 4.14%, the highest since April. In Japan, the two-year yields rose above 1.0%, a level not seen since 2008. Our short…

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Macro and Markets Review for November 2025

Dec 3, 2025

9:37 am

November felt like a pause for breath rather than a turning point. Global equities eked out a 0.3% gain, leaving year-to-date returns at a robust 20.1%, but the intra-month story was a nervous drawdown as investors flirted with the idea that the Fed might skip a December cut before swinging back to pricing one move….

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Navigating Growth as Cycles Evolve

Dec 2, 2025

5:21 am

When discussing US GDP growth, recent commentary has focused heavily on capital investment. The AI boom has driven a sharp rise in corporate capex, with firms racing to upgrade infrastructure and scale new applications. The consumer side of the economy, however, has been more mixed. In fact, consumer confidence has weakened throughout much of the…

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