Manpreet Gill, Standard Chartered does not rule out short-term volatility but would add India for the longer-term.
Manpreet Gill, Standard Chartered expects a relief rally in emerging markets (EMs) on the Fed status quo on interest rates. But he cautions investors against chasing prices as fundamentals have not changed.
Gill says, the US Fed statements show the central bank is focused on US inflation and US growth.
After hinting that global market volatility will not be a factor while reviewing interest rates, the Fed blinked and held its key federal funds rate unchanged .
The Fed was widely expected to raise rates at its September 17 meet, and the decision not to do so will only prolong the uncertainty in global markets feel most experts.
Stanchart prefers developed markets over emerging markets, but is bullish on India as the fundamental drivers are different from other emerging markets, says Gill. He does not rule out short-term volatility though.
More to come