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Currency and bond traders also questioned whether the Federal Reserve might now delay the planned withdrawal of its monetary stimulus. The clock is ticking and despite this last-gasp deal, the fiscal saga is by no means over.
"The primary difference is that the benchmarks in the energyand commodity markets derive from a need to develop pricinginformation for physical transactions, unlike benchmarksspecific to financial markets that were set up purely to allowthe pricing of financial instruments," says the Argus paper.
A storm surge is the big killer in such storms, though heavy rains are likely to compound the destruction. The Indian government said some 12 million people would be affected by the storm, including millions living far from the coast.
After delivering his speech and fielding a few questionsfrom bankers and economists, Bullard told reporters: "I'd likesome kind of reassurance that inflation was moving back towardtarget" before reducing the bond buying.
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