market-commentary

MARKET COMMENTARY

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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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How Can 0.1% Feel So Good?

Nov 21, 2023

7:37 am

• US CPI data beats expectations by 0.1% and markets rally • The markets have almost priced a perfect outcome of a soft landing and unwinding of inflation • It’s too early to judge how things will work out, but the loosening of monetary conditions could lead to an unwanted rebound in inflation • The…

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Investment Strategy

Nov 17, 2023

10:02 am

• US Q3 2023 GDP number exceeded forecasts, but our outlook remains cautious. • Eurozone GDP contracted in Q3, 2023, poised to enter a technical recession next quarter. • China’s recovery remains lacklustre despite attempts at monetary revival. • The Indian economy continues to be resilient amid strong festive demand. • We expect Indian equities…

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