market-commentary

MARKET COMMENTARY

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Nothing is For Certain

Nov 7, 2023

10:22 am

• The market’s positive reaction to last week’s news flow was exaggerated by the closing of an enormous, short treasury position in the market • Given elevated volatility in asset markets now is not the time to take outsize risk positions • We see signs of weakening US growth, however the read through is not…

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Monthly Review of Macro and Market Performance

Nov 3, 2023

10:21 am

Through October, dat reports for the global economy showed stronger-than-expected growth in the United States and some stabilisation in China. Third quarter US GDP growth came in well ahead of expectations at 4.9%. Still, strong consumer spending growth was a positive feature (Chart 1). The sharp increase in inventories means that the headline growth somewhat…

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Strong US Growth too Hot to Handle?

Nov 1, 2023

7:20 am

• US Q3 GDP growth was big surprise to the market keeping up the pressure for higher rates • FOMC is unlikely to raise rates this week but will likely express their intense vigilance • In the equity market higher long term yields will pressure growth sectors such as Tech • The tech sector has…

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Portfolio Commentary

Oct 31, 2023

8:48 am

Taking stock of portfolios • The usual star sectors of the market, like financials and consumers, have taken a back seat in the current rally. • Since equity markets witness sector rotation we have seen loss of interest in the quality theme. • Valuations have gotten attractive as the market performance has been comparatively subdued…

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