23-10-2023 12:31 PM | Source: PR Agency
Quote on the impact on Indian markets by the increasing US 10-year bond yields Alok Agarwal, Alchemy Capital Management
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Below the Quote on the impact on Indian markets by the increasing US 10-year bond yields by Alok Agarwal, Alchemy Capital Management
"Rising rates are intuitively not positive for equity markets. With US Govt bonds giving 5% dollar returns, the ask rate for equities goes up significantly if one were to adjust for risk premium and currency hedging.
But India is in a special place. Finding another significant economy with a double-digit increase in corporate profits, double-digit nominal GDP growth, and double-digit ROEs is challenging. The force majeure continues. Higher rates imply that capital is not free or simple to obtain. However, in our view, it is never a barrier to something like what India provides, which is growth certainty. In summary, rising rates are not a sign of strong equity, but given its advantages, India is predicted to fare better."
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