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EMPOWER YOUR WEALTH WITH MARKET INSIGHT & ANALYSIS DIRECLTLY FROM AMBAREESH BALIGA
28 February 2021
Sunday
Rising yield play havoc globally
Markets witnessed volatile movement during the week as markets tanked globally as a rout in global bond markets sent yields flying and spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets. A poorly received U.S Treasury auction saw the 10-year benchmark surge as much as 23 basis points to 1.6 pct. U.S. Federal Reserve Chair Jerome Powell reaffirmed interest rates would stay low, calming market fears that higher inflation might prompt the central bank to tighten the interest rates. Back home, rising bond yields along with increasing cases of Covid-19 spoiled investors’ appetite for risk assets. Firm oil prices and US airstrikes on Syria too impacted sentiments. It would be pertinent to point out that we have been suggesting that rising yields could be party spoiler.
On the portfolio front, we continued booking timely profits. We booked balance qty in Pidilite at Rs 1722, full profits in KSB Pumps at Rs 705, booked fully in L&T at Rs 1482, partially in IRCTC at Rs 1784 and partially in ONGC at Rs 118.
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SEBI registered Research Analyst : INH000001139