market-commentary

MARKET COMMENTARY

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Bonds to Edge Equities

Aug 24, 2022

5:00 am

• The market is pricing a more aggressive Fed than previously thought. • We expect Fed action and signs of a potential sharp slowdown in US growth to be more challenging for equities than bonds. • Watch to see if institutional buying protects the 3.0% level on the US 10 year government bond yield. •…

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August 2022 Newsletter

Aug 22, 2022

8:55 am

Quality check of the Sanctum Indian Titans (Titans) Portfolio The result season has concluded, and all our portfolio companies have come out with their earnings. As expected, the raw material price pressure kept eating into the margins of the bulk of companies, despite which, the performance has been quite promising. The commentaries are also comforting…

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Are Things Really That Good?

Aug 17, 2022

11:26 am

• Better than expected US inflation precipitates another leg of an equity market rebound • Underlying US inflation picture still a concern for economists • Much lower growth and higher inflation still point to a very challenging environment ahead • It’s too easily forgotten that the Ukraine war is ongoing and its impact could worsen…

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A Challenge and an Opportunity

Aug 10, 2022

9:48 am

• Markets challenged by central banks determined to squeeze out inflation • The Bank of England delivers a very sobering assessment of the UK economy • The possibility of fiscal easing by a new UK Prime Minister only pressures the BoE to raise rates still further than previously envisaged • Despite higher rates sterling is…

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