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Silver Lining

Jul 8, 2022

11:06 am

In 1913 when the U.S. Federal Reserve Board came into existence, containing inflation and limiting economic swings were its key mandates. Ironically, today the Fed has been the primary source of inflation, and the U.S. is likely already into a technical recession. The Atlanta Fed has cut its GDP forecast to -2.1% Gears of conversation…

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As Bad as it Felt

Jul 6, 2022

8:28 am

• Asset markets have a poor quarter • Equity losses focused on tech and economic sensitive sectors • Investment grade bonds maintain the momentum of losses seen in Q1 • High yield and Emerging market debt performs likely equity with heavy losses • Investors move into the third quarter fearing recession and hoping that central…

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One Swallow Does Not Make a Summer

Jun 29, 2022

8:50 am

• A positive week in the markets provides some stability but does not indicate that all is well • Growth data remains weak and inflation threatening • Central banks remain hawkish and vigilant • Government bonds in US and Europe find support and sit in a defined trading range • We are on wage inflation…

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Earnings – Afterall, it’s the bottom line that counts

Jun 27, 2022

9:03 am

The long earnings season has ended with decent performance amid challenging market conditions. The outlook, though, remains mixed as companies battle high input costs and supply-side issues. Total sales for the Nifty 200 universe grew 21% YoY, primarily led by Oil & Gas, Metals, Financial Services, and IT. EBITDA ex-BFSI increased 11.1%, marred by intense…

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