The Great Reckoning

Sep 26, 2022

10:32 am

• Central bank meetings highlight their determination to raise rates substantially to control inflation risk • Bond market repricing to catch up with central bank aggressiveness • Equities have still to price the recession risk and the likely persistence of higher interest rates • Worst case scenario – S&P500 plunging 25% from here Gone is…

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Portfolio Commentary

Sep 21, 2022

12:44 pm

Structurally speaking – Is India turning a corner? After the unabated selling in the year’s first half, August was another month of relief for the markets. The enviable resilience in the Indian markets has surprised many pundits, feeding the narrative that India is decoupled from the world. The last time the decoupling story made its…

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Sapping confidence

Sep 20, 2022

8:45 am

• US inflation stronger at the core and widespread • Equities and bonds vulnerable to breaking into new weaker territory • First signs for the US corporate results season unnerve the market • Fed and Bank of England look set for 75bps rise in policy rates Last week’s equity market action made it amply evident…

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Waiting

Sep 12, 2022

2:30 pm

• The markets appear to be in the mood to put a positive spin on current data • However central bankers remain hawkish pushing on with substantial rate rises ahead • Fiscal policy in Europe is starting to take the edge off some of the worst predictions of recession. • Both the UK and eurozone…

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