{"id":2020781,"date":"2015-04-25T15:37:23","date_gmt":"2015-04-25T10:07:23","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=2020781"},"modified":"2015-04-25T15:37:23","modified_gmt":"2015-04-25T10:07:23","slug":"macro-update-25-04-2015","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2015\/04\/25\/macro-update-25-04-2015\/","title":{"rendered":"Macro Update 25.04.2015"},"content":{"rendered":"

US Treasuries vs. Gilt Spread<\/h3>\n

The spread between 10yr US Treasuries and Indian Gilts have widened over the last couple of months…<\/p>\n

\"ust-ind-10yr-spread.2011-01-18\"<\/p>\n

Institutional Investments<\/h3>\n

… probably because FPIs were net sellers of debt so far this month. But foreign flows had slowed down in April last year as well, so not sure if this is a seasonal thing.<\/p>\n

\"fii-investments\"<\/p>\n

But Domestic institutional investors are in position to pick up the slack if the April swoon leads to a longer lull.<\/p>\n

\"dii-investments\"<\/p>\n

Oil<\/h3>\n

Fall in global oil prices were a tail-wind last year. But is the tide about to turn? Oil has been inching up since its January lows.<\/p>\n

\"wti-brent<\/p>\n

Gold<\/h3>\n

The fate of Gold is going to be decided by Janet Yellen. Rising rates are no friends of precious metals.<\/p>\n

\"gold.usd\"<\/p>\n

And Gold in Indian Rupees are back at Jan 2013 levels.<\/p>\n

<\/a><\/p>\n

USDINR<\/h3>\n

If US rates go up, will the Rupee see 64? INR has been steadily losing ground to the dollar over the last year.<\/p>\n

\"USDINRFutures\"<\/a><\/p>\n

The Dollar Index (DXY) has shot up like a rocket this year. One can argue that INR has actually appreciated against other currencies. <\/p>\n

\"DXY<\/p>\n

Outlook<\/h3>\n

Rising oil prices and the US dollar, combined with a sense of disappointment on the reforms front could flat-line markets. Poor monsoons could put further pressure on the inflation front, and not to mention the government balance-sheet as it would be forced to provide relief to drought-stricken farmers. Bulls do not have much to go on at this point given that valuations are stretched and the current earnings season has been a disappointment so far.<\/p>\n","protected":false},"excerpt":{"rendered":"

US Treasuries vs. Gilt Spread The spread between 10yr US Treasuries and Indian Gilts have widened over the last couple of months… Institutional Investments … probably because FPIs were net sellers of debt so far this month. But foreign flows had slowed down in April last year as well, so not sure if this is … <\/p>\n","protected":false},"author":2,"featured_media":2020881,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[3481],"class_list":["post-2020781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-your-money","tag-macro","entry"],"_links":{"self":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts\/2020781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/comments?post=2020781"}],"version-history":[{"count":0,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts\/2020781\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/media\/2020881"}],"wp:attachment":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/media?parent=2020781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/categories?post=2020781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/tags?post=2020781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}