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December is traditionally a low-volume month. Foreign portfolio investors (FPI) have financial year-ending coming up and everyone goes on holiday. This year, the smart money will also stay on the fence until there are news triggers and data points available. One theme is already visible. FPIs are moving to USD-denominated instruments and out of emerging markets.
Central bank policy clarity is also emerging. The Federal Reserve has hiked USD policy rates. The European Central Bank has extended its bond-buying timeline and cut the monthly quantum. The Reserve Bank of India (RBI), the Bank of Japan and the Bank of
Central bank policy clarity is also emerging. The Federal Reserve has hiked USD policy rates. The European Central Bank has extended its bond-buying timeline and cut the monthly quantum. The Reserve Bank of India (RBI), the Bank of Japan and the Bank of
