In an interview to CNBC-TV18, Steve Brice, Chief Investment Strategist, Standard Chartered Bank spoke about rupee and global markets.
Steve Brice, chief investment strategist at Standard Chartered Bank speaks about expectations from the European and emerging markets (EMs) going forward. He also tells CNBC-TV18 on the impact of the economic data in US on such markets.
US stock market will continue to make new highs because the earnings so far have beaten consensus forecasts. The markets seem to be shrugging of bad news and are focusing on Fed and US data, says Steve Brice
Steve Brice of Standard Chartered Bank does not expect Ben Bernanke to say too much at this juncture because from a economic perspective the need for him to do something is not that great at this stage. They expect tapering by Fed is likely from Q1 of next year.
Steve Brice, Standard Chartered Bank believes that Nikkei has been performing extremely well for an extended period, without any pause or break.
Global markets are down and if the cause was Cyprus before now it is North Korea. Markets might be heading for a period of uncertainty because of the various reasons. Steve Brice, Standard Chartered Bank feels that some of the vulnerable underperforming markets like India might fare through that patch.
Steve Brice, Chief Investment Strategist at Standard Chartered Bank feels although, there is a shift towards volatility, markets may not correct more than 5 percent.
Steve Brice of Standard Chartered Bank expects to see a 5-10 percent short-term pullback in markets. He says the Sensex can touch 22,000 levels in the next 12 months.
According to Steve Brice, Standard Chartered Bank, there is 60% probability of a slight pullback in equities, maybe 5-10% in the short-term. "But we would be advocating that people really use that as a buying opportunity," he asserts.
Over the last couple of days, markets are slightly sluggish and Steve Brice of Standard Chartered Bank feels the rally is pausing due to no concrete action from the European Central Bank (ECB). In an interview with CNBC-TV18, Brice said that he maintains a positive bias on equities and advises buying on declines.
Although declining inflation has brought in some relief, Steve Brice, chief investment strategist at Standard Chartered says the recent pick up in oil price will add to current account deficit worries.
Although, the European leaders came up with some positive news during the Euro Summit, Steve Brice, Chief Investment Strategist of Standard Chartered Bank feels that Europe must have structural reforms in the long-term.
Steve Brice of Standard Chartered Bank says that while inflation continues to be a major concern for India, the scope for further monetary policy easing by the Reserve Bank of India is quite limited at the moment.
The global markets were already apprehensive of the European elections and the BSE Sensex dropped more than 1% on Monday, as global risk assets sold off after elections in Greece and France fuelled questions on their austerity policies.
Steve Brice, chief investment strategist at Standard Chartered Bank tells CNBC-TV18 he expects government bond yields to soften post the LTRO announcement.
In an interview to CNBC-TV18, Steve Brice, chief investment strategist at Standard Chartered Bank finds that as he compares emerging markets to its developed peers, he sees the later faltering in the first quarter but slowly picking up in the second half of the year.
Steve Brice, Chief Investment Strategist at Standard Chartered Bank tells CNBC-TV18, European leaders need to get more serious about the situation in the Eurozone.