market-commentary

MARKET COMMENTARY

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Help Less Central Banks

Jun 21, 2022

11:03 am

• Central banks are all at sea with reactionary and often poorly signalled rate shifts • The probability of global recession steps up as economic data disappoints • Surveys of US smaller companies show unprecedented stress in the economy • Bank shares look vulnerable after performance that has been in line with the market •…

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RBI Policy and Asset Pair Commentary

Jun 15, 2022

1:08 pm

Over the last week, the Monetary Policy Committee met and decided to raise policy rates by 50 bps to 4.9%, which was largely in line with the market and our expectations. The RBI acknowledged higher inflation by hiking inflation forecasts by 100 bps but kept growth forecasts unchanged, probably waiting for more data on the…

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This is For Real

Jun 14, 2022

8:54 am

• US inflation data a massive wake up call to the market • Central Banks will scramble to get ahead of the curve • Bonds and equities remain vulnerable • China one of the few bright spots The message is crystal clear: Do not bury your head in the sand. There is real trouble out…

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Wall of worries

Jun 9, 2022

11:28 am

We started 2022 on a cautious note. The global economy was firmly on the path of normalization post covid but so was liquidity. Withdrawal of excess global liquidity was the antidote to the froth in equity markets. In our January 2022 year commentary, we wrote “While we are very constructive on the Indian equity story…

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