The US Fed’s pivot to tighter monetary policy given persistent inflation has been reflected in violent price action over the last few weeks in global Treasury markets and US mortgage rates.
The Tantallon India Fund closed 3.99% lower in April, marked by significant intra-month volatility with two disappointing earnings releases as higher costs eroded margins and continued redemption-driven selling by foreign institutional investors. We are glad that this one is in the books.
First, some top-down layering on the markets and the risks as we see them:
