Inflation data from the US indicate that the soft landing narrative is in tact Says Dr. V K Vijayakumar, Geojit Financial Services
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Below the Quote On Morning Market 11 August 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Inflation data from the US indicate that the soft landing narrative is in tact. The Fed is likely to pause in September. This will support global equity markets. The only negative from the RBI’s message yesterday is the hike in CRR to neutralise the excess liquidity created by the withdrawal of the Rs 2000 notes. The sentimental impact of this decision is unlikely to last long since it will not impact the banking sector’s bottom line much since the NPAs of banks are coming down and the credit growth in the economy is good. The indication from the RBI is that a rate cut can be expected only in Q1 of FY 25. This will be a headwind for the market. But the market is likely to remain strong. Banks, capital goods and autos are likely to do well, going forward.
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