Subprime shocks keep market on Fed watch

MUMBAI: On a rainy day in the first week of August, Nilesh Shah decided to call up a friend in London. The Nifty had crashed by 4% due to a global liquidity crisis. Mr Shah, who is the deputy managing director and chief investment officer at Prudential ICICI, one of the country’s biggest private sector mutual funds, had been closely following the turmoil in the subprime mortgage market and the yen carry forward trade playing out in the West.

Read More