Commenting on the ongoing debate of Fed looking at tapering liquidity, Priest says, the tapering will probably start sometime next year because the US economy has seen a turnaround but it has not reversed yet.
Lyn Graham-Taylor, Fixed Income Strategist at Rabobank believes the verdict met expectations. Going forward, the ESM maybe operational within the next couple of weeks, he feels.
A positive verdict from the German Constitutional Court gave a new lease of life to global as well as domestic markets. Indian equity benchmarks made the most of the positive mood and the Sensex soared past the 18,000 mark.
As the German Constitutional Court on Wednesday allowed the country to ratify the eurozone's new rescue fund and budget pact, Tom Levinson, Foreign Exchange Strategist at ING said, it has provided some relief to the market.
Mark Konyn of CCAM told CNBC-TV18, the market momentum has built over the announcements made by the ECB last week. However, before the big decision on the banking union comes out, markets are likely to be cautious.
Patrick Legland, global head of research, Societe Generale explains to CNBC-TV18 the factors and course of events that the European markets are pricing-in and expecting from the euro zone and the FOMC which meets later this week.