Markets have given a thumbs-down to this Budget. What is really hurting the market so much?
In this period, other markets like China have corrected sharply. So there is clearly some concern globally. Also, on July 5, the US employment data came out as quite positive. Therefore, the steady decline in bond yields in the US has started to reverse. That is certainly not very good for emerging markets. We have to view the market moves in that context as well.
Additionall ..