All for Nothing

Oct 5, 2021

8:20 am

• Both equities and bonds end almost flat for the third quarter • EM equities the standout; China down 18%, India up 12% • Equities need some better news, and a potentially significant reduction in COVID restrictions would help • Japanese equities still have a lot of potential • Energy prices have further upside Although…

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The Fed’s Dots Go for Lift-off

Sep 28, 2021

6:55 am

• The Fed’s policy stance has undergone a subtle but significant hawkish shift • Bond markets noticed, and yields rose • The start of higher rates may now be in 2022, and not 2023 • US government shutdown talks gain momentum • Evergrande, no news is not good news Last Wednesday’s Fed meeting brought a…

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Not So Evergrande

Sep 22, 2021

5:54 am

• Evergrande situation deteriorates hitting markets early Monday • Market action in early trading in Asia suggests that the situation is threatening to run out of control. • Left to its own devices, a market-driven solution could cause serious systemic damage • The question of contagion leads to another pertinent question that the market will…

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Financialization- a Mega Trend

Sep 17, 2021

6:40 am

‘Hum hain naye, andaz kyon ho purana’ – is a Bollywood song that reflects the Indian youth in their journey of financialization of savings. In 2017, when the RBI committee released a report on household finance, 84% of Indian household wealth was in real estate and other physical goods, 11% in gold and only 5%…

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