Feb 7, 2020 10:07 am
Credit Push to Stressed Sectors, Repo Rate Unchanged The Reserve Bank of India (RBI) today decided to maintain the policy repo rate at 5.15% amid elevated inflation. The MPC decided to keep the monetary policy stance unchanged as “accommodative” with an objective of achieving a medium-term target for CPI of 4% within a band of…
Read MoreFeb 4, 2020 11:39 am
• Markets hoping coronavirus is SARS-like. • Bonds have discounted a more marked slowdown in global growth than equities. • Central bankers back in action but policy tools are quite blunt • Gold approaching $1600 remains an asset of choice The coronavirus continues to dominate the headlines and as yet still does not appear to…
Read MoreFeb 1, 2020 2:40 pm
Budget Highlights The budget tried to accommodate expectations of various set of groups and attempted to take balanced approach in terms of allocation with focus on developing rural economy, infrastructure, healthcare and education. While equity markets were expecting some big bang reforms to revive demand situation amidst slowing economy, budget lacked major measures to immediately…
Read MoreJan 27, 2020 1:09 pm
“If we don’t change the direction we’re going, we’re going to end up where we’re headed” – Chinese Proverb Money Buys…. Satisfaction? A new poll by the NPR and Harvard finds that 90% of the top 1% income earners in the U.S. (> $500,000 income) are very or completely satisfied with their lives; in contrast,…
Read MoreJan 20, 2020 12:06 pm
• The rise of ESG as a dominant theme in investment management will be clear this week • A genuine commitment is required. The time of superficial efforts to quell dissent is over Davos starts on January 21st with an agenda entitled ‘Stakeholders for a Cohesive and Sustainable World’. While the agenda title is set,…
Read MoreJan 13, 2020 1:37 pm
“The process of intelligently building a portfolio consists of buying the best investments, making room for them by selling lesser ones, and staying clear of the worst.” – Howard Marks Summary The Nifty 50 delivered a 12.0% return in 2019, while the NSE 100 and NSE 200 delivered 10.4% and 8.7% respectively. Meanwhile, the Midcap…
Read MoreJan 6, 2020 11:31 am
• President Trump’s unprecedented intervention raises the stakes massively with Iran • The President has gambled with the world’s well being • A spike in oil prices raises the risk of higher inflation and lower global growth • Gold is the obvious winner • Massive Australian bush fires highlights again the substantial risks from climate…
Read MoreDec 13, 2019 10:55 am
• The Conservative Party on track for a significant majority. • The Labour party’s prevarication on Brexit and somewhat extreme socialist policies fail to impress • Sterling rebounds smartly and may be on track to $1.40 • UK equities, particularly those focused on domestic growth have room for upside after perennial underperformance • Next up…
Read MoreDec 9, 2019 12:44 pm
Our quarterly asset pairs methodology is a key input into the formation of our investment strategy forecast and provides insights into relative attractiveness between asset pairs, and preferences within asset classes. Equities Vs. Bonds Valuations Remain Expensive While Relative Valuation Remains at Neutral Equity markets have delivered strong returns over the past few months. As…
Read MoreDec 5, 2019 12:18 pm
Contrary to street expectations, the Reserve Bank of India today decided to maintain the policy repo rate to 5.15% with a unanimous vote in favour of keeping rates unchanged. The MPC also kept the monetary policy stance unchanged at “accommodative”, with an objective of achieving a medium-term target for CPI of 4% within a band…
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