I think there are a few layers here. First of all, the Fed is clearly behind the curve. And their credibility has been damaged by what has happened with inflation and the monetary policy response over the last few months.
From a technical standpoint, the previous week has created a gap. In the process, the index has shifted its support zones higher in the range
Even as the S&P BSE Sensex hit a new lifetime high of 69,893.8 and ended with weekly gains of over 2%, the broader BSE500 had
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