Let’s Talk Macro

Although 2025 draws to a close, global and domestic economies continue to be marked by uncertainty, policy shifts, and diverging growth paths.

In this episode of Let’s Talk Macro, we discuss the key economic narratives that shaped 2025 and the trajectories that could define 2026, across the world's major economies and India. The conversation spans growth, inflation, labour markets, fiscal and monetary policy, exchange rates, and external balances.

Join Sreejith Balasubramanian, Senior Economist in the Fixed Income Fund Management team at Bandhan Mutual Fund, as he shares perspectives on global macro risks, India’s evolving policy mix, currency dynamics, and what investors should watch as we head into the next year. 

Mutual Fund investments are subject to market risks. Read all scheme related documents carefully.

In this episode, we discuss India’s fiscal performance versus the FY26 budget estimates and explore the fiscal flexibility that could emerge from FY27 while staying credible under the new Debt-to-GDP framework.
Join Sreejith Balasubramanian, Economist in the Fixed Income Fund Management team at Bandhan Mutual Fund, as he shares insights on fiscal consolidation, budget dynamics, and medium-term fiscal space.
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS. READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.

In this episode, we discuss the significance of monsoon and what rural wages, farm input costs, and other indicators reveal about the health of India’s rural economy.
Join Sreejith Balasubramanian, Economist in the Fixed Income Fund Management team at Bandhan Mutual Fund, as he shares insights on rural dynamics and their impact on broader economic trends.
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS. READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.

In this episode, we discuss why the passthrough of higher tariffs to US consumer prices is likely to be more moderate and drawn-out, and how this, along with a weaker labour market, supports further rate cuts by the Fed.

Join Sreejith Balasubramanian, Economist in the Fixed Income Fund Management team at Bandhan Mutual Fund, as he shares insights on inflation, tariffs, and the Fed’s policy outlook.

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS. READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.

In this episode, we explore India’s current economic backdrop, the potential impact of GST rate rationalisation, higher US tariffs, and the continuation of fiscal credibility.
Join Sreejith Balasubramanian, Economist in the Fixed Income Fund Management team at Bandhan Mutual Fund, as he shares insights on what these developments mean for India’s economy and outlook.
Mutual fund investments are subject to market risks. 
Read all scheme related documents carefully.

In this episode, we explore the continuing challenges facing the Chinese economy, the impact of recent fiscal measures, and the implications of frontloaded growth in the first half of the year.
Join Sreejith Balasubramanian, Economist in the Fixed Income Fund Management team at Bandhan Mutual Fund, as he shares insights on what lies ahead for China and the rest of the world in the second half of the year.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.

We discuss the Fed’s dual goals, the current situation and outlook for US inflation and labour market, and what is driving the Fed’s current policy stance.
Join Sreejith Balasubramanian, Economist in the Fixed Income Fund Management team at Bandhan Mutual Fund, as he explores the US macro backdrop and the Fed’s cautious stance.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.

Is India’s economy steady amidst rising global uncertainty? In this episode, we return to domestic macro dynamics – covering key economic data, fiscal and monetary outlooks, global linkages, and India’s structural macro story.
Join Sreejith Balasubramanian, Economist in the Fixed Income Fund Management team at Bandhan Mutual Fund, as he breaks down India’s proactive policy approach, the state of inflation and credit, and the longer-term structural narrative.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.

US tariff changes are making headlines, financial markets are sending mixed signals, and the US Dollar is weakening—but what does it all mean?
Join Sreejith Balasubramanian, Economist in the Fixed Income Fund Management team at Bandhan Mutual Fund, as he discusses the latest shifts in US trade policy, the unusual dynamics in financial markets, and the growing impact of uncertainty on the economic outlook.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.

We look at the weaker US economic data, its reasons, uncertainty around tariffs and other Trump 2.0 policies, the US Fed’s views on these, recent global developments, and what this means for the USD and for India.
Join Sreejith Balasubramanian, Economist in the Fixed Income Fund Management team at Bandhan Mutual Fund, for an insightful discussion on what’s shaping the macroeconomic narrative this month.