The Morning Brief Trump’s U-Turn, Trade Wars & India’s Investment Edge
Apr 11, 2025
Sankaran Naren, CIO of ICICI Prudential Mutual Fund with over 30 years in the market, discusses the recent shifts in U.S. tariff policies and their effect on global markets. He analyzes the implications of the U.S.-China trade tensions and what it means for investors. Naren also highlights India's economic stance, suggesting it could attract investments as companies look to move away from China. Additionally, he shares insights on navigating market uncertainties, the significance of U.S. bond yields, and strategic asset allocation for investors.
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US Market Outlook
- The US market rally might be short-lived due to underlying economic problems.
- High fiscal and current account deficits persist despite Trump's tariff U-turn.
Global Economic Slowdown
- The US economy, a key global engine, is expected to slow down significantly.
- The ongoing US-China trade war adds to the existing economic concerns.
India's Economic Position
- India is in a better fiscal position compared to the US and China.
- Indian markets' overvaluation has corrected somewhat, presenting a relatively positive outlook.