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🇮🇳 🇮🇳 India is minting billionaires at a brisk pace, helped by Narendra Modi’s policies. Knight Frank estimates that the number of ultra high net-worth individuals in India—those with $30 million or more—will jump 50% by 2028
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🚨 🚨 Investing In Toys: Mattel’s Masters of the Universe Eternia Playset, which sold for around $100 new in the 1980s, now commands an average of $5,000 in its original box. The product is so sought after that Mattel mounted a crowdfunding campaign last year to produce a new version of it that will ship in 2024
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🚨 🚨 Europe: While June’s planned initial reduction in the deposit rate is almost sure to proceed, any hopes for another quick-fire move the following month are receding. Underpinning the case for caution is stronger-than expected economic expansion in the 20-nation bloc — even as inflation backpedals toward the target
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🇮🇳 🇮🇳 Indian bonds are holding up better than most Asian peers despite the swings in Treasuries, boosting the appeal of the nation’s debt before its inclusion into major global indexes
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🇨🇳 🇨🇳 Fund Managers Are Not Convinced: “Bear market rallies in China are not uncommon,” said John Woods, chief investment officer for Asia at Lombard Odier. “Do we tactically play these rallies and try to cleverly time entries and exits, or do we look through them and focus instead on earnings and fundamentals? Inevitably, we prefer the latter.”
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🚨 🚨 Morgan Stanley says the Federal Reserve will cut, not ‘if but when.’ The firm says inflation will trend lower regardless of Wednesday. “We remain bullish the Fed will cut three times this year — but starting in September rather than July — with two more cuts in November and December”
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🚨 🚨 Donald Trump pledged to double down on tax cuts if he wins a second term as president, drawing a distinction with President Joe Biden who has called for tax hikes on businesses and the richest Americans
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