Union Budget 101: Key Things to Know! Where Government Earns From & Spends Source: Budget Documents, HDFC Tru Fiscal Deficit and Why It Matters Fiscal Deficit (FD) equals total expenditure minus total receipts. It is the amount the government must borrow to fund its shortfall. It is measured as a percentage of nominal GDP. FD = […]
Entering 2026, global bond markets are undergoing a significant repricing. Despite a cooling phase in late 2025, long-term yields have surged in January, driven by a “perfect storm” of fiscal expansion, intensified competition for capital and shifting central bank dynamics. The US 10-Year Treasury yield has climbed back toward 4.3%, while international benchmarks, including Japan’s […]
Real Estate Investment Trusts (REITs) offer a liquid and tax-efficient way to invest in commercial property without the burdens of physical ownership. They provide professional management, regulatory protection under SEBI, and attractive distribution yields (5-6% for listed REITs in India). While they offer low correlation to equity markets, investors should remain mindful of risks like […]
States are flooding the bond market with debt – SDL yields spiking, spreads ballooning close to 100 bps, way above norms. G-Secs ease while states’ large borrowings strains supply, with pension funds and insurers pulling back. Charts expose the squeeze. Relief? Not till H1 FY27, when borrowing finally slows. Introduction Indian states have borrowed heavily […]
The 10-year return quilt highlights that asset-class leadership is highly cyclical, with no single asset class delivering consistent outperformance across different market cycles. Strategic asset allocation, not return chasing, remains the primary driver of long-term portfolio outcomes. Over the last decade, leadership across asset classes has been highly cyclical. No single asset has delivered persistent […]
After a strong rally in 2025, Precious metals are currently trading in a stretched zone and appear to have entered a phase where price momentum is increasingly driven by financial flows (ETFs). History suggests that such phases often lead to heightened volatility and meaningful drawdowns. While the strategic long-term case for Precious metals (especially Gold) […]
2024 HDFC TRU