On most mornings for the past two years, Sanjay would caddy for a group of Indian bureaucrats as they played a round at Delhi’s most prestigious golf club amid strutting peacocks and 15th century monuments.
Jim O’Neill, former chairman of Goldman Sachs Asset Management who coined the acronym BRICs for the largest emerging markets, said the victory of Narendra Modi in the Indian election is a “massive, massive positive” for the nation.
India’s strongest electoral mandate in 30 years puts Narendra Modi in a position to pass measures to bolster Asia’s third-biggest economy, spurring optimism it will lead a recovery among the biggest emerging markets.
Investors should get used to U.S. Treasury yields rising toward 4 percent as the 30-year bull market in bonds comes to an end, according to Jim O’Neill, former chairman of Goldman Sachs Asset Management.
China is accelerating the yuan’s appreciation as part of the “grand bargain” to win U.S. support for Beijing to gain a bigger say at the International Monetary Fund, says Goldman Sachs Asset Management’s Jim O’Neill .