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Wall Street cheered the Fed's gradual plan to trim its balance sheet. In an interview to CNBC-TV18, Geoff Lewis, Global Strategist-Capital Markets Group, Manulife Asset Management shared his readings and outlook on Fed's plan.
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In an interview to CNBC-TV18, Geoff Lewis, Global Strategist-Capital Markets Group at Manulife Asset Management shared his readings and outlook on global markets especially the US.
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A short-term correction could be in offing but beyond that, we would see momentum as international investors are slowly returning to EMs.
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Lewis said that we still have worries if Donald Trump will be able to push his agenda forward with respect to tax cuts.
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In an interview to CNBC-TV18, Geoff Lewis, Global Strategist-Capital Markets Group at Manulife Asset Management said that global markets are firm.
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On the back of strong macroeconomic data, a correction is overdue but relatively mild. It would not extend to 15-20 percent. The maximum downside is around 10 percent,” he said.
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Geoff Lewis, Global Strategist, Capital Markets Group, Manulife Asset Management although surprised at the ADP jobs data in the US says it does confirm that the economy is on an improving track and makes a strong case for Fed rate hike next week.
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The retreat in the US dollar and 10-year treasury yields from the peaks has helped emerging markets (EMs), according to Geoff Lewis of Manulife Asset Management. He said that emerging markets are also drawing strengths from better corporate earnings.
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The emerging markets (EMs) have started to look better as worries over the new US President Donald Trump resides. Geoff Lewis of Manulife Asset Management is optimistic on EMs and said that there is a good long-term entry point for them now.
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Speaking to CNBC-TV18 Geoff Lewis of Manulife Asset Management said that Donald Trump has been a game-change in the sense there is a movement away from a scenario of low margin growth and low interest rates.
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In US, Hillary Clinton continues to be the favourite, said Keith Parker of Barclays. The Republicans will control the House, which reduces chances of aggressive change in policies like taxes and regulations.
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Speaking to CNBC-TV18 Geoff Lewis of Manulife Asset Management said that markets are in a wait-and-see mode. He sees no reason for major volatility.
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According to Geoff Lewis of Manulife Asset Management, risk-reward ratio is in favour of emerging markets (EMs) against developed markets. Among the developing nations, he prefers manufacturing based markets over commodity producers of Latin America and US equities over European, in the developed markets, he added.
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The Federal Reserve will not raise rates until December, though there is still a major chance of the US Fed hiking the rate hike in 2017, says Geoff Lewis of Manulife Asset Management.
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Global market experts believe although there are definite chances of a rate hike before 2016 ends, it would not rattle the emerging market space. However, short-term there could be some hurdle for the emerging markets (EMs).
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Countries like Brazil, which have been recovering from a recession, have seen bottom- fishing and manufacturing countries like Taiwan and South Korea are also seeing money flowing into their markets, says Geoff Lewis, Global Strategist - Capital Markets, Manulife Asset Management.
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Geoff Lewis, Global Strategist-capital markets, Manulife Asset Management said he is comfortable with what the central banks world over are doing.
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Japanese Prime Minister Shinzo Abe today announced his government would compile a 28 trillion yen (USD 265 billion) fiscal package, including stimulus measures such increased government spending and loan programs.
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A Fed rate hike in September may upset markets ahead of the crucial US Presidential elections in November, says Geoff Lewis of Manulife Asset Management.
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Experts believe Brexit may continue to have a short-term impact of markets such as India but said the medium-term impact will be restricted the UK and EU economies.
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The US Federal Reserve will hike rate only after considering jobs data in December, says Geoff Lewis, Global Strategist, Capital Markets Group of Manulife Asset Management.
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A pause in the Fed's rate hike cycle would be positive for emerging markets, says Geoff Lewis of Manulife Asset Management.
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Manulife Asset Management's senior strategist also talked about the Mauritius treaty. He said the amendments in the India-Mauritius tax treaty aren't retrospective and they certainly address many tax issues.
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In an interview with CNBC-TV18, Geoff Lewis said that he expects US Fed to hike rates twice this year and sees US dollar strengthening in the second half of the year.
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Geoff Lewis, Senior Strategist, Manulife Asset Management, tells CNBC-TV18, there could be a knee-jerk reaction in global markets to the GDP growth downgrade. However, the impact is likely to be limited because Japan has not contributed to the global economy for some time now.
