The FT Event & After: A Crisis of Confidence

Further to the note titled, “Bond Funds: In the Light of Robust Processes”, from Bhavesh Sanghvi, CEO, Emkay Wealth, on the real issues, immediately after the FT Event, we are pleased to share this brief note on the consequences of this event for the near future. A Crisis of Liquidity? There is a liquidity glut […]

Brent, the barrel is set rolling…

It will be an understatement to say that oil prices have been volatile over the last two months. The prices have been broadly in between the US$ 40 and US$ 20 levels. The fundamental factors that have been at play for the oil economy has been the slowdown or sluggishness in the economies like China […]

RBI Fires its Second Salvo…

The RBI released a statement today wherein it provided its assessment of the current state of the economy and some additional measures to tide over the current situation. The announcements made today are part of the Governor’s statement and not an outcome of MPC meet. Assessment of the Economy: As per the RBI’s assessment, in […]

Equities: Perspectives and a Case for Investing

Macro Variables – Are they relevant now? The major macro variables that we look at to gauge the direction of the economy and the markets are GDP, IIP, CPI etc. But these variables may remain not very relevant in the immediate future as they may not be assessed or estimated properly due to lack of […]

Fixed Income & Bond Market:

Update & Perspectives The four major factors that are of consequence for the fixed income or bond market are the policy of the central bank or the official interest rate policy, the liquidity conditions in the interbank market, the government borrowing program and the inflation trajectory. Each factor is detailed in the following paragraphs, along […]

Easing Inflationary Pressures…

The CPI based inflation numbers eased for the second consecutive month; after touching a high of 7.59% in the month of Jan’20, the headline inflation number for the month of Mar’20 came in at 5.91%. The core inflation numbers too maintained an easing trend. The latest inflation numbers are an estimation, as data collection efforts […]

Here’s why succession planning is taking the center stage

In the wake of coronavirus, here’s why succession planning is taking the centre stage As the fear of Coronavirus sweeps the globe there is a rising fear among people to safeguard their family; and with a fierce financial panic, to preserve their wealth.  This is a temporary phenomenon, but people have become more wary of […]

Government Borrowing Program – H1 of 2020-21

The government borrowing program for the first half of 2020-21 has been announced. It is interesting to look at three features of the borrowing program from an investment perspective, that is the (i) spread of the borrowing program over H1 and H2, (ii) the maturity-wise concentration of the primary issues, and (iii) the month-wise distribution […]