Monthly Market Summary: November 2018

Monday, December 3rd, 2018

We look at returns of various asset classes such as equity, debt, gold, crude oil and the Indian rupee in our latest monthly market summary.   We use data for these charts from Investing.com   Global Equities The Sensex and the S&P500 both outperformed their broader emerging and developed market peers respectively. The Indian market in particular […]


Monthly Market Summary: October 2018

Thursday, November 1st, 2018

We look at returns of various asset classes such as equity, debt, gold, crude oil and the Indian rupee in our latest monthly market summary.   We use data for these charts from Investing.com   Global Equities Most major equity markets globally faced a steep correction in the month of October. While the S&P500 and the Sensex […]


How does the balance of payments affect demand?

Thursday, October 18th, 2018

How does a balance of payment problem affect demand in the economy? Neelkanth Mishra of Credit Suisse puts it in an elegant way in an interview with Ira Dugal. To paraphrase, if you think of it like a household budget: suppose a family has a consumption expenditure of Rs. 120 and an income of Rs. […]


MPC Meet: October 2018

Friday, October 5th, 2018

A few notes from the MPC statement and press conference today.   But first, a quick recap of the previous August policy and guidance: In the August meeting, the MPC was of the view that domestic growth momentum was strong and that the output gap was closing. However rising trade protectionism, geo-political tensions and elevated […]


Monthly Market Summary: September 2018

Wednesday, October 3rd, 2018

We look at returns of various asset classes such as equity, debt, gold, crude oil and the Indian rupee in our latest monthly market summary.   We use data for these charts from Investing.com   Global Equities October was a brutal month for Indian equities. As can be seen from the chart above, the Sensex on a […]


Can NRI deposits be the saviour of the currency?

Thursday, September 20th, 2018

Interesting and pertinent observation by Jehangir Aziz of JP Morgan in an interview with Bloomberg Quint     Currently the narrative around the rupee is that if things “get really bad” then the RBI can step in, issue NRI bonds and that would keep the currency in check. Jehangir Aziz observes that if you look […]


Five reasons to invest in International Equities

Friday, September 7th, 2018

Why invest in international equities? We would say, why would you not? Here are just a few reasons why it is prudent, for an investor with a longer time horizon and and more aggressive risk profile, to have an allocation to international funds: Globalisation: Since 1991 India has slowly but steadily opened up to foreign […]


State of the Economy

Tuesday, September 4th, 2018

Good interview on the state of the economy with Pranjul Bhandari and Ira Dugal     Some of my key takeaways: Narrowly focused GDP growth – financials being led by personal loans and not industrial credit which is a worry Potential growth is close to 7.1 per cent. January to June we have been growing […]


Monthly Market Summary: August 2018

Monday, September 3rd, 2018

We look at returns of various asset classes such as equity, debt, gold, crude oil and the Indian rupee in our latest monthly market summary.   We use data for these charts from Investing.com   Global Equities US Equities and Indian large cap equities rallied strongly in August, continuing a multi-year trend of high returns. However, the […]


Currency Wars: Turkish edition

Monday, August 13th, 2018

The Turkish Lira has been in the spotlight over the last few days as escalating tensions with the US have led to large depreciation of its currency. #Lira dethrones Argentine Peso as this year’s worst performing EM currency.#Euro falls on #Turkey contagion riskshttps://t.co/yD16pqqwDN pic.twitter.com/yIWcVufI36 — Fercan Yalinkilic (@FercanY) August 10, 2018 According to The Economist, […]


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