The Wrap🌯 08 Oct 23 | Global Macro plays Spoil Sport
The Wrap🌯 08 Oct 23 | Global Macro plays Spoil Sport
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Bond Yields and US economic data continues to dampen global market sentiment, Indian markets continue to consolidate and face the global headwinds
Click here to read about how to understand and interpret the above grid.
In last week’s issue of TheWrap, we highlighted how Real Estate was a really strong theme based on the corporate filings of various real estate companies.
This week, Real Estate index was the best performing for the week at 🔼2.18%
US Macro data continues to play spoil sport.
US 10Yr bond yields are up 5.03% this week (a giant % move in the bond world) driven largely by Friday’s release of US employment data. Simply put, even after the fastest interest rate hike in US history, their economy continues to grow strong with really low unemployment rates.
Low unemployment gives Fed added ammunition and room to safely hike rates further, which stock markets dislike.
I wont bore you with more macro commentary, much of it remains the same as last week.
Market breadth wise, we are still at the top percentile so not a great risk:reward to open new positions and better to stay vigilant and defensive.
Its a great time to research and hunt for ideas (you can find several from this newsletter on your own) and be prepared for a buying opportunity in the future.
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