Oil Approaches $50

What is driving the rise in oil prices and can it sustain?   From the lows of $27/bbl in February 2016, Brent Crude has rallied over 75% as it gets closer to the $48/bbl mark. What has changed in the last 3 months to justify a 75% appreciation in the price of crude oil? Even…

Participatory Notes

Stricter compliance may eventually make P-Notes unviable…   Regulating Participatory Notes (P-Notes) is nothing new. Back in 2007, an attempt by the Finance Ministry to curb P-Notes resulted in the indices touching the lower circuit. Later in 2012, the markets were spooked by the likely introduction of GAAR and again resulted in large-scale value destruction.…

FOMC Minutes

Does it make a case for a Fed rate hike in June? The recent FOMC minutes released during the week was interpreted by markets as a signal of front-ending of rate hikes by the Fed. There was virtual unanimity in holding Fed rates in the 0.25%-0.50% band, with just one dissenting vote at the FOMC…