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It’s common knowledge now that benchmark Indian & US (S&P 500) indices are down by 16% & 21% respectively with some stocks down by more than 50%. The sharp uptick in yields caused the mark to market losses in long-term debt instruments. There is a lot of chaos recently after Russia’s attack on Ukraine and the market seems directionless & confused on the way forward. In this piece, we are trying to understand what the…

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