Morning Market Quote : The FOMC minutes indicate slowing of the rate hikes, going forward Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote on Morning Market 24 November 2022 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"The US market construct of ‘ rising equity-falling bond yields-falling dollar’ continues favouring the bulls. In addition to this favourable global cues, in India, the steadily falling crude is another positive. The FOMC minutes indicate slowing of the rate hikes, going forward. Consequently, the 10-year yield fell to 3.69% and the dollar index slipped to 106. So long as this trend continues, bears will be on the back foot. In India macro news confirms the resilience of the Indian economy. Investment is gaining momentum. The latest RBI data shows credit growth at an impressive 17% YoY. This is good news for the banking and capital goods stocks."
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