On the positive side there has been a good union budget (tax rates cut), easing actions by the central bank (rate cuts, liquidity boost, regulatory relaxations), and uptick in government spending. The rally in March was a welcome relief. However, I believe that the markets could remain rangebound in the near term.
Chicago Fed President Goolsbee rejects calls for Fed rate cuts to ease US debt burden
Chicago Fed President Austan Goolsbee rejected calls for interest-rate cuts to ease the US government’s debt burden, warning that such a move could fuel inflation