Global - Adrian Mowat JP Morgan
Source: CNBC
Indian equities are good bet if markets fall
Do not see any reason why investors will go for gold which is a non-yielding asset. This is good for equity markets as this ensures a continuation of QE3 and chairman Bernanke's position at the Fed is not under threat. So that is good for markets.
The market still has China in the background and the relationship between the US and China would have been under more disputes if we had a Republican President. This is based upon some of the comments made during the Presidential debates.
Obamas win actually is quite good news for emerging markets. This will now allow the speedy redressal of the threat of the fiscal cliff. If the markets fall during the debate on the fiscal-cliff threat, then Indian equities are a good bet offering excellent demographic dividends especially after the improvement in the macro-economic situation.
Unfortunately, India's macro economic performance was very poor in 2012. But the situation is improving though the currency looks undervalued to me. So if there is weakness and the markets fall by 5 percent, it will be time to buy Indian equities.
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