As you all probably know, the US debt ceiling had been the primary focus of attention since the PIIGS passed over the baton of global focus.
“A deal had been reached to cut US$ 2.4T over the next decade”, President Barack Obama announced.
· Vote by the Senate
· Vote by the House of Representatives and hence to the President’s desk
· If the ‘deal’ pleases/meets the credit rating agencies requirements.
Otherwise, this would create another series of aftershocks. Prior to the deal being reached, global markets were jittery over the last week or two. News of the deal had sent Asia Pacific indices higher. This would probably overflow to Europe and the US.
But, what is actually the plan details and how would the experts interpret the details? As usual, the market rally on news/hopes and reverses when ......
