The Tide Recedes

Discover the latest trends in our monthly Investment Note for July 2024 from Lighthouse Canton, titled "The Tide Recedes."

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• The Fed appears to be one step closer to a September rate cut: The US Consumer Price Index (CPI) fell 0.1% in June, putting the 12-month rate at 3%, providing further cover for the Fed to start lowering interest rates.
• The US Jobs data slowed from the previous month; Unemployment inches higher: The US Treasury Yields declined after the Bureau of Labor Statistics (BLS) data release.
• Gold and Silver prices rise sharply in July on the back of increasing rate cut expectations.
• Indian Economy remains robust: India’s Manufacturing and Services Purchasing Managers' Index (PMI) came in higher than in May. The CPI inches higher due to Food Inflation.
• Q1FY25 Earnings Expectations: In Q1 FY25,the market expects modest earnings growth of ~3% YoY for Nifty 50 companies.
• India looks forward to the Union Budget: This budget is anticipated to remain committed to the path of fiscal consolidation, and inch closer to the FY26 target of <4.5%.

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Check our report below to gain key insights about the same

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