Fog of War Clouds India’s Stocks Rally

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Military posturing has revived animal spirits. Cooler heads will suggest the gains are unlikely to last.

  • Anjani Trivedi
  • Bloomberg

It’s amazing what a bit of chest-beating and military posturing can do.

India’s war of words with and air strikes on Pakistan have reinvigorated the re-election campaign of Prime Minister Narendra Modi.

Opinion polls (if you believe them) are predicting a bigger margin of victory for Modi’s National Democratic Alliance than they were two months ago.

A creeping skepticism that had taken hold after the…

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