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Half Way Back ⬅️

The Indian markets ended last week 1% up, the second week of a positive closing. Even the US, which saw markets falling by 20% this year so far, were up 4% last week.

What’s up?

  1. Investors have been hoping to see a peak in inflation, and seek value at those levels

  2. There’s a lot of terming for this market to have been ‘oversold’

  3. The Fed appears poised to raise rates by 50 basis points over the next two months, which is in-line with expectations, and not higher on aggression

  4. Retail earnings in the US suggested strong consumer spending despite inflation. This is a key positive since 70% of the US economy is dependent on consumers.

  5. Excise duty on petrol and diesel were reduced. While this appears to reduce the weight on consumers, it is a mere shift of baggage from people to the fiscal budget.

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