The Week began with more weakness than, expected. With INFOSYS getting Thumps down with sober result and sombre guidance, While, TCS stole the Spot light. The result are indicating Wage Pressures, but the Pipe Line seems strong and order Mix strategical. The Equity market remained sideways, While Bombay Blast dampened the Feed markets, like Gold and Diamond, . Mumbai did not work fully, for Blast and Heavy rains.
The Political stage remained dormant. The Government remained on back foot. Indian Government shows not only Lack Leadership and very few good people, conducting the affairs. The Lipstick Service to Ministerial Changes were Like Cheap Parlour. Did more dis service.
The Inflation remains entrenched. Weather in North East states from Bihar to Assam remains in perilous State.
All rivers Bramhaputra, Ganga, remain much above ' Danger Level '
International Event kept a tight grip on the FII's. Google put all on wrong foot and rose more then 10%, nothing much was expected from JPmorgan, Citi Bank. Only the lending in US seems to be 'stifled'
FOMC minutes and Ben Bernakes' semi annual Testimony worked as " Carrot/ stick " ( See Post )
European Stress Test added more stress and Commodities remained firmed. US data was good, barring Consumer Confidence remained low.
As per, prognosis Standard & Poors and Moody's raised " Flags" about debt Ceiling and Political theatre remained fluid. President Obama took the Public route to generate pressure on the Republicans, without effects. The warning memos were issued By Geitner and Bernanke.
Any de- rating of US Long Term debt would cause a great volatility across the Globe and banks, Pension Funds, mutual funds, and Many countries may find hard to adjust Folios.
Is this a New Reset...?
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