Market Quote : Strong US job data is reinforcing Fed`s hawkish stance and multi-year high US bond yields Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 04 October 2023 By Vinod Nair, Head of Research at Geojit Financial Services
"Strong US job data is reinforcing Fed's hawkish stance and multi-year high US bond yields is signalling an impending interest rate hike. Globally, investors are adopting risk-averse strategies due to inflation concerns and the strengthening US dollar. And in India, despite a robust economy, premium valuations of midcaps and recent rally is augmenting consolidation. Interest-rate-sensitive sectors like real estate, banking, and metals are the most impacted category, while the FMCG sector is more optimistic in expectation of near-normal monsoon & festival demand. Auto is consolidating amid mixed growth numbers and in this weak period, large-cap are a trading safe to hold on."
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