market-commentary

MARKET COMMENTARY

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Investment Strategy

Jul 5, 2023

9:11 am

• Fed pauses in June but signals further rate hikes. • A diversified global equities portfolio should form the core of international allocations. • Emerging markets’ valuations looking attractive relative to developed markets. • India's inflation and growth outlook appears favourable in the current global economic context. • Our asset allocation views- neutral equities, overweight…

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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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