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US federal debt reached its currently-mandated ceiling of US$31.381trn by the end of 2022, as Treasury Secretary Janet Yellen disclosed on 19th Jan’23. Since then, she has been taking ‘extraordinary measures’ to conserve cash (as her predecessors during the Clinton years from 1994-96 and the Obama presidency in 2011 and 2013 were obliged to do when the opposition Republicans controlled Congress).
The Asian markets are trading lower tracking weak cues from Wall Street overnight. Nikkei was trading lower by 0.81%, Hang Seng was trading lower by 1.07% and Shanghai was trading lower by 0.72%.
US federal debt reached its currently-mandated ceiling of US$31.381trn by the end of 2022, as Treasury Secretary Janet Yellen disclosed on 19th Jan’23. Since then, she has been taking ‘extraordinary measures’ to conserve cash (as her predecessors during the Clinton years from 1994-96 and the Obama presidency in 2011 and 2013 were obliged to do when the opposition Republicans controlled Congress).
Over the past year, the Indian software sector was rocked by a global slowdown, worsened by high inflation. The collapse of key US banks and Credit Suisse in March 2023 only exacerbated the situation for IT companies, which rely heavily on banking and finance clients for revenues.
Despite weakening global growth and financial tightening coming to the fore, India's economic activity continued to demonstrate resilience, ending FY23 on a stable note.
The Asian markets are trading mixed as investors watch out for private surveys on Australia and Japan's manufacturing and services activity which will be released during the day ahead. Nikkei was trading higher by 0.60% and Hang Seng was trading higher by 0.08%. Shanghai, on the other hand, was tr..
Since Jan’23, global macro headwinds in the form of rising interest rates and tech MNC hiring slowdown (MNCs account for 67% of Indian office space demand) have led to a slowdown in large leasing decisions for the moment.
Domestic passenger trend remains strong with daily count of more than 420k. This is also complemented by an increase in PLFs as we enter the seasonally strong Q1FY24, as illustrated by Apr’23 PLFs.
Total domestic airline passengers increased by 21.4% YoY and 6.8% MoM to 128.9 lakh in March 2023. Departures by scheduled carriers rose 13.6% YoY to 90,423.
