By Navneet Munot A month is a long time in financial markets – while a lot has changed over the past 30 days, there is a lot that hasn’t. Troubles for a part of the financial sector remain and continue to be one of the key monitorables, both from real economy as well as financial markets standpoints. Yet, the mood amongst equity investors is more optimistic now. Among the local factors contributing favourably are recent government initiatives, most notably the corporate tax cut, as also RBI’s intent of continuing with accommodative monetary stance as long as necessary to revive growth (within its inflation constraints of course). Global news bits have been supportive too, with some easing off in US-China trade tensions and an increasingly synchronised global monetary easing. On the last point, a vast majority of central banks have been easing monetary policies in the wake of slowing growth. The Bank of Japan and European Central Bank are already experimenting with negative interest rates. Amid this, the US Federal Reserve has been among the more reluctant of central banks of late on aggressive easing. While it too has cut rates recently, it has only referred to these cuts as mid-cycle… Read full this story
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