The Fed remains resolute in its data-driven response to inflation and inflationary expectations, even at the risk of an elongated recession.
The Tantallon India Fund closed 2.31% higher in October after markets chose to focus on robust corporate earnings that continued to track ahead of market expectations, the correction in energy prices and the Modi government staying the course on structural reforms.
However, broader markets remain “challenging”. Accounting much for the volatility were fund flows, forced covering of leveraged positions, month-end NAV-propping, Xi-watching and endless prognostications on geopolitical risk in Crimea and the South China Sea. Therefore, it is better to remain focused on the fundamental revenue/margin/valuation drivers for industries and stocks.
