Equities
| MINTs | |
|---|---|
| JCI(IDN) | -1.31% |
| INMEX(MEX) | -2.57% |
| NGSEINDX(NGA) | -3.68% |
| XU030(TUR) | +0.10% |
| BRICS | |
|---|---|
| IBOV(BRA) | +0.54% |
| SHCOMP(CHN) | +2.77% |
| NIFTY(IND) | +2.77% |
| INDEXCF(RUS) | +5.02% |
| TOP40(ZAF) | -1.25% |
Commodities
| Energy | |
|---|---|
| Heating Oil | -1.82% |
| Brent Crude Oil | +0.95% |
| WTI Crude Oil | +0.96% |
| Natural Gas | +4.83% |
| RBOB Gasoline | +3.74% |
| Ethanol | -8.81% |
| Metals | |
|---|---|
| Gold 100oz | +4.96% |
| Palladium | -5.39% |
| Platinum | +3.02% |
| Silver 5000oz | +8.54% |
| Copper | -4.66% |
Currencies
| MINTs | |
|---|---|
| USDIDR(IDN) | -0.45% |
| USDMXN(MEX) | -0.20% |
| USDNGN(NGA) | +1.90% |
| USDTRY(TUR) | +1.42% |
| BRICS | |
|---|---|
| USDBRL(BRA) | -0.72% |
| USDCNY(CHN) | -0.01% |
| USDINR(IND) | -0.73% |
| USDRUB(RUS) | +5.82% |
| USDZAR(ZAF) | +0.58% |
| Agricultural | |
|---|---|
| Corn | -3.20% |
| Feeder Cattle | -3.05% |
| Lean Hogs | -4.84% |
| Soybean Meal | -9.92% |
| Wheat | -6.01% |
| Cattle | -3.58% |
| Coffee (Robusta) | -1.52% |
| Cotton | -2.49% |
| Lumber | -3.34% |
| Sugar #11 | +2.41% |
| Cocoa | -0.25% |
| Coffee (Arabica) | -4.38% |
| Orange Juice | +5.89% |
| Soybeans | -5.62% |
| White Sugar | +1.48% |
Credit Indices
| Index | Change |
|---|---|
| Markit CDX EM | -0.63% |
| Markit CDX NA HY | -0.40% |
| Markit CDX NA IG | +2.89% |
| Markit iTraxx Asia ex-Japan IG | +3.23% |
| Markit iTraxx Australia | +2.03% |
| Markit iTraxx Europe | +0.73% |
| Markit iTraxx Europe Crossover | +7.83% |
| Markit iTraxx Japan | +0.75% |
| Markit iTraxx SovX Western Europe | -0.74% |
| Markit LCDX (Loan CDS) | -0.43% |
| Markit MCDX (Municipal CDS) | +2.56% |
Rajan surprised us with a rate cut. But the Swiss central bank surprised a whole bunch of FX brokers and punters by abandoning their peg against the Euro. Most developed country 10-year yields are either at zero or negative. Investors are paying the Swiss for the privilege of lending them money!
Nifty Heatmap
Index Returns
Sector Performance
Advance Decline
Market Cap Decile Performance
| Decile | Mkt. Cap. | Adv/Decl |
|---|---|---|
| 1 (micro) | +0.74% | 70/65 |
| 2 | -0.29% | 74/61 |
| 3 | +1.86% | 73/62 |
| 4 | +1.33% | 68/67 |
| 5 | +0.33% | 68/67 |
| 6 | +1.61% | 73/62 |
| 7 | +1.28% | 66/69 |
| 8 | +1.72% | 70/65 |
| 9 | +2.28% | 71/64 |
| 10 (mega) | +2.90% | 68/67 |
Large caps outperformed mid and small caps.
Top Winners and Losers
Miners got pummeled. The end of a super-cycle brings many deaths…
ETF Performance
| PSUBNKBEES | +3.43% |
| JUNIORBEES | +3.38% |
| BANKBEES | +3.28% |
| GOLDBEES | +3.09% |
| NIFTYBEES | +2.99% |
| CPSEETF | -0.04% |
| INFRABEES | -0.60% |
Go Rate-Cut Rajan!
Yield Curve
Bond Indices
| Sub Index | Change in YTM | Total Return(%) |
|---|---|---|
| GSEC TB | -0.10 | +0.18% |
| GSEC SUB 1-3 | -0.48 | +0.49% |
| GSEC SUB 3-8 | -0.32 | +1.36% |
| GSEC SUB 8 | -0.28 | +2.57% |
The long-end continues to rock investor returns…
Investment Theme Performance
| Growth with Moat | +6.31% |
| Efficient Growth | +5.06% |
| Market Elephants | +3.51% |
| Market Fliers | +3.33% |
| The Other Value | +2.71% |
| CNX 100 50-Day Tactical | +2.69% |
| Balance-sheet Strength | +2.60% |
| Momentum 200 | +2.04% |
| Financial Strength Value | +1.90% |
| Old Economy Value | +1.67% |
| ADAG Mania | +0.36% |
| Enterprise Yield | +0.30% |
| Auto | -0.21% |
| Magic Formula Investing | -0.61% |
| Quality to Price | -0.67% |
Green for the most parts…
Thought for the weekend
Concentration produces wealth. Diversification protects it.
Concentration produces innovation. Diversification produces mediocrity.
Make big bets, do fewer things, concentrate your resources.
Don’t hedge, commit.
Source: Making Big Bets