Bullish overview in the Economic Survey helped market sentiments. Investors are expecting that some of the reform measures outlined in the Survey may be implemented in the Union Budget.

There is a feeling in the market that the bonus could be to make up for possible poor fourth-quarter numbers or not-so-good guidance ahead.

One final burst is still to happen before the market cools off. But the fall may not be steep, as a lot of money is still waiting on the sidelines to be invested.

They're telling kind of a big lie about tax reform.

You had a president who was clearly committed to fundamental tax reform, and we assumed that they would be taking that commitment to heart.

I think the heavier lifting is the budget-process and earmarks [reform]. Lobbyist reform is blaming somebody else. I just fear that there will be too much blaming and not focus on what we need to do.