US President Barack Obama announced late Sunday (early Monday, India time) that Osama bin Laden, the leader of Al Qaeda responsible for the September 11 attacks, was killed in a firefight during an operation inside Pakistan. Here's how they finally got him!
It ended a 10-year manhunt for the world's most wanted terrorist. The event is expected to slightly improve the overall US consumer sentiment.
Speaking to CNBC-TV18, market veteran Raamdeo Agrawal of Motilal Oswal Financial Services said the death of Osama will definitely have a positive rub-off global equity markets. "If 9/11 had such a dramatic downside impact, the fall of Osama would definitely have positive impact because this is good news which sinks slowly in the market," he said.
Experts also believe this could increase flows into risk assets like yen and dollar carry trades. It's also possible for some European sovereigns spreads to tighten.
Meanwhile, Anand Tandon of JRG Securities sees only a short-term impact of the news.
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