Global mkts calm ahead of US bank stress test results
Published on Thu, May 07, 2009 at 09:25 | Source : CNBC-TV18
Updated at Thu, May 07, 2009 at 15:12
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Global mkts calm ahead of US bank stress test results
Today is an important day for global markets as the results of the US bank stress test will be released today. But looking at global markets, one would get the feel that things are quite calm and settled.
Today is an important day for global markets as the results of the US bank stress test will be released today. But looking at global markets, one would get the feel that things are quite calm and settled. News coming from the banks stress test result does not indicate terrible things for some of the larger names like Bank of America and Citi.
We are going in with a bullish leaning to this stress test: Absolutely; and there must be something to be said for it, the fact that there as been so much made about this stress test but all markets are rallying. The sector itself which probably stands to loose from any bad or damaging news, has rallied over the last couple of days. Things are fine, the global uptrend is still continuing, the market also seems to be in a good mood. A couple of days of consolidation and we could have a couple more. Overall the uptrend which started seven weeks back is kicking and alive and no signs of any kind of threat to it just yet.
