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Reindustrialisation vs Strong Dollar
Donald Trump began his second term with less drama than anticipated, at
least on the tariffs front. His agenda—bolstered by strong U.S. economic
growth—has led to the strongest dollar since the early 2000s. However, this
strength poses a key challenge: reducing the trade deficit becomes
increasingly difficult with a high dollar.
1H 2025 for Indian Equities
The road ahead seems to be ridden with speed breakers due to multitude of factors casting their dark shadows which shall not be period of easy returns as compared to last few years
Equity Gain: Real or a Mirage?
Investors may feel optimistic about the impressive rise in their equity
portfolios, but beneath the surface, the story isn’t as remarkable. While
equities appear to soar, their real value, especially when compared to
gold, often dismissed as "doing nothing” paints a more sobering picture.
Gold has nearly kept pace with equities, despite the latter representing
real-world value creation. So, are we truly growing, or merely treading
water in the face of inflation?
Pandanomics and Animal Spirits
Earlier this year, during one of our Klay Rally-Up Series webinars, I was asked what
could make me more positive on China, given my bearish stance on both economic
and earnings growth despite attractive valuations. My answer was simple: We need
to see Premier Xi Jinping give Alibaba’s founder, Jack Ma, a big, very public hug. The
Chinese markets peaked in February 2021, just a few months after Jack Ma’s
infamous speech criticising the Chinese government
US Fixed Mortgage Rates
The predominance of 30-year fixed-rate mortgages in the U.S. housing finance market
has slowed the pass-through of the Federal Reserve's interest rate hikes to existing
borrowers. This is because most U.S. households had locked in ultra-low mortgage rates
before the Fed began raising rates in 2022.
