Market Quote : A slew of weak economic data points from the US and China hinting towards a slower pace of economic growth Says Vinod Nair, Geojit Financial Services
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Below is on Market Quote 12 May 2023 By Vinod Nair, Head of Research at Geojit Financial Services
"A slew of weak economic data points from the US and China hinting towards a slower pace of economic growth disturbed the mood of the Asian market. The risk of a recession in the US escalated as US jobless claims rose to their highest level since October 2021 while producer prices rose at a modest pace. Consequently, US Treasury yields reacted, indicating a potential halt in central bank rate hikes. The domestic market recovered in the second half as investors back home awaited the release of Indian inflation data that is expected to cool down below 5%"
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