CLSA India: The Rate Sensitives Are Back In The Fray (Christopher Wood) Banks, Real Estate and Construction, the building blocks of the Indian Economy would now be favoured over cyclicals like Steel. Interestingly those very sectors which brought Bombay down will help the resurgence.-Oil likely to drift to $ 100 per barrel -USD/Euro cross to move to 1.20-1.25-US Fed Funds rate will be further cut to 1 per cent.-Sell Commodity and Cyclicals, especially Steel. -Australia/New Zealand will be sold off-Within Asia Taiwan weightings cut by 1 per cent, Korea further underweighted by 1 per cent and Thailand holdings brought down to 0.-Indian holdings continue to be in and favour interest rate sensitives.
Tuesday, August 12, 2008
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