*_Daily Snapshot | Reading the Signals_* With equities appearing overbought and bonds offering low yields, where should investors turn. The NSE All Share Index has surged over 60% since the November 2023 bottom, closing at 140 yesterday—levels last seen during the post-COVID rally in September 2022. Meanwhile, government bond yields are hovering around 12% across the curve—hardly enough to excite investors. Treasury bills have slipped into single digits, and with the CBR rate cut yesterday, yields are poised to slide even further. Question now is where the opportunity will emerge and are we bracing for it if the macro signals start to shift?