AKG weekly charts - Issue #129
This newsletter is a weekly selection of 10 charts hand-picked across the internet which pertains to our investment strategy and bring an updated insight and perspective.
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[1] Germany days as an industrial superpower are coming to an end. As policy paralysis grips Berlin, energy crisis was final blow for a growing number of manufacturers. German comps pay some of highest electricity prices in EU.
[2] Jeff Bezos sold more than $2 Billion of Amazon shares in last week, first sell after 2021.
[3] The U.S. Dollar is currently used in more than 48% of international payment transactions, the highest level in more than a decade. USD isn’t going away anytime soon. De-dollarization is not materialzing!
[4] The RBI didn’t take measures in the MPC meeting last week but liquidity is slowly seeing an uptick in the system.
[5] Rate cuts cycle has begun. Fed keenly watched for other developed central banks to take the cue.
[6] Contribution of manufacturing to India’s economy peaked in the mid-1990s and has been on the decline since then. In the year 2022, manufacturing contributed 13.3% to India’s GDP, the lowest level since 1967. China+1 is lot more gas than substance.
[7] US earnings expected to bounce back in 2024 anticipating rate cuts. Larger question is how much and how much ahead is priced in S&P at current levels?
[8] At this stage of economic development, whether this degree of fiscal tightening is desirable?
FY24RE shows that to meet the fiscal targets, the government has cut capex spending also. Is it appropriate to save on capital expenditure to meet fiscal targets?
FY25BE growth in capex spend on key sectors is very moderate.
[9] Key short frequency indicators in India continue to hold up well.
Source: Morgan Stanley
[10] Investors are throwing in the towel on commodities. Assets Under Management for Commodities ETFs have seen a steady decline over the last 2 years.
Disclaimer:
This newsletter is for information and educational purposes only. In this material, Amit Kumar Gupta (SEBI registered Research Analyst, INH100009327) has used information that is publicly available and is believed to be from reliable sources. While utmost care has been exercised, the author does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. Readers, before acting on any information herein should make their own investigation & seek appropriate professional advice. Any sector(s)/ stock(s)/ issuer(s) mentioned do not constitute any recommendation and the RA may or may not have any future or existing position in these. All opinions/ figures/ charts/ graphs are as on date of publishing (or as at mentioned date) and are subject to change without notice. Any logos used may be trademarks™ or registered® trademarks of their respective holders, our usage does not imply any affiliation with or endorsement by them. Past performance on charts may or may not be sustained in the future and should not be used as a basis for comparison to infer any investment ideas