A late rally on Wall Street has helped cast off some of the gloom from Europe's debt crisis - but how long can it last?
So what's causing the rebound today? Wilson HTM Investment manager Derek Growns said the rally has been sparked in part by a
Financial Times article that suggested EU ministers are looking at new bank aid plans and recapitalisations. Still as Mr Growns notes:
- "How many times have we read that in the last few weeks?’’
- "I still think we have a hell of a lot of volatility ahead in coming months."
Mr Growns said that when the market does turn because the
right action has been taken, a strong rally could follow, fuelled by
the substantial amounts of money that has been sitting on the sidelines.
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