market-commentary

MARKET COMMENTARY

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Central Bankers Still Hard at Work

Jul 4, 2023

5:46 am

• Central bankers continue to fret about the persistence of inflation • Markets continue to underestimate the likely tightening in monetary policy ahead • US 10-year government bonds look likely to break through the 4% mark • Bank of Japan may have to fight inflation with a little more vigour, which could arrest the weakness…

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Geopolitics to the Fore Again

Jun 27, 2023

5:45 am

• Geopolitics continues to unnerve markets globally • US dollar, gold, and the bond market likely to be the kneejerk assets of choice • UK MPC sprang a surprise and raised rates by 50bps • UK longer dated gilts hold in but two year bond yields spike • European growth tips down and may take…

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Portfolio Commentary

Jun 21, 2023

9:22 am

The Valuation Conundrum • Nifty seems to be following the valuation discipline quite well. • Buy-at-any-price is losing steam. • Entry valuations matter a lot while constructing portfolios. • Portfolio outcomes are generally better when one doesn’t pay too much. Headline indices ended last month with respectable gains of over 2%, while small and midcap…

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Taking a Breather

Jun 20, 2023

6:31 am

• The Fed takes a breather, but ‘promises’ two further rate rises • UK MPC could spring a surprise and raise by 50bps this week • Bank of Japan still waiting for an opportune time to adapt their monetary policy – bad news for the Yen • US equities a reflection of the tech sector…

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