Quote on Morning market 11th November 2021 By Dr. V K Vijayakumar, Geojit Financial
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Below is quote on Morning market 11th November 2021 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
"Rising inflation is emerging as a threat to the global equity rally, at least in the short-term. Consumer price inflation in the US has risen to a 30-year high of 6.2%, year-on-year, in October. Core inflation rose to 4.2%. These numbers are well above most forecasts. In China, too, producer price inflation has risen to 13.5%. This has the potential to spill over to global commodity inflation.
Sensing the danger ahead, the US 10-year yield rose to 1.57%. The Fed still believes that the spike in inflation is caused by supply-side issues and, therefore, is transient. But there are many who believe that the Fed is behind the curve and that the entrenched inflation will force the Fed to accelerate tapering and advance rate hikes. If this scenario is to unfold, there can be a sell-off and sharp corrections in markets, globally. So, investors have to watch this space.
Meanwhile, the IPO market is getting exuberant and the new-age digital companies are trading at unjustifiably lofty valuations. Investors have to exercise a lot of caution in this space"
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