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It doesn’t get any better, it gets tougher

Oct 17, 2023

7:37 am

The Middle East is at the centre of global geopolitics once again – and this time for some very unfortunate reasons. Whether the developments will have a bearing on the financial markets is something that only time will tell, but the profound human suffering that has affected so many lives will certainly affect our collective…

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Investment Strategy

Oct 13, 2023

9:47 am

• Global economy faces headwinds. • India growth resilient despite global challenges. • Indian bonds likely to be range bound as RBI counterbalances bond inclusion cheer. • Better value in large cap relative to mid and small cap stocks in the medium term. Odd Man Out Mixed global macro-economic data has now been crying wolf…

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Don’t get Anchored on the Wrong Past!

Oct 10, 2023

8:49 am

• It would be a mistake to believe that bond yields will revert back to the average of the last decade • Instead we see fair value for the US 10 year bond yield at 4-5% into the medium term • Spike higher in US industrial confidence argues for a rebound in equities through the…

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A Quarterly Turning Point

Oct 3, 2023

9:46 am

• Bonds and equities give negative returns for the quarter • The sharp rise in long term interest rates weighs heavily on the markets • Much higher oil prices propels more inflation and the equity oil sector • High yield bonds look vulnerable to a correction – EM debt less so • Japanese growth still…

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