There appear to be no US excesses for severe contraction: Bruce Phelps

In the US market, one major challenge is high rates on short-term deposits, standing at 5 per cent, a vast improvement from 0 per cent returns that investors endured for many, many years, Phelps said

Despite stellar returns over the past year, the US and Indian equity markets are on solid ground, buoyed by steady economic growth, according to BRUCE PHELPS, managing director and head of institutional advisory & solutions at PGIM. In an interview with Samie Modak in Mumbai, Phelps notes that while there could be more volatility ahead, the overall backdrop for equity investors remains favourable. Edited excerpts:

What factors do you believe have supported the surge in global, US, and Indian equities over the past year?
 

As we entered 2023, there was widespread certainty that a recession was imminent. Some even placed