Oil Near $100, US Yields At 5%: Why A Global Market Rally Could Still Be Ahead

Crude oil moving towards $100 a barrel and rising long-term US bond yields are raising concerns for global markets, particularly India. Amit Goel, Co-Founder & Chief Global Strategist, Pace 360, believes the global macro setup remains positive despite these headwinds. He points to the AI boom, corporate capital expenditure, strong earnings, money supply growth, consumer spending and government spending as key drivers supporting the outlook. While higher crude prices are more significant for India due to its dependence on imported oil, he expects global equities to have further runway. He sees a potential global rally over the next two to three months.