By Una Galani
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
Volatility has cooled for the moment, even as the U.S. Federal Reserve lifted its quantitative easing program on Wednesday, but Europe, China and Brazil are still concerns for financial markets, according to a veteran investment manager.
A dip in 30-year mortgage rates to their lowest level in more than a year and stronger U.S. housing data on Friday appeared to be the green shoots of the next phase of U.S. economic recovery, that being the housing market.
The truncated Diwali week saw the Nifty closing at 8,014, recovering from a “breakdown” scare and ending about 3 percent higher to welcome the new Hindu calendar year - Samvat 2071.