Beckoning of the bull

There has been a reversal in the mood of the markets. Along with the rest of us, risk assets seem to have had their time in the sun, for now. Markets are still fragile as evidenced by the recent (20 April) sharp sell-off in the US markets on concerns about the financial sector. Financials fell 8.8%; also hit hard were materials, industrials, consumer discretionary and energy stocks - all sectors that have raced ahead in the recent rally. Oil fell 7.9%, and the VIX index - or fear gauge - rose 15.9%, and the Yen has bounced back against the Euro. This is important because markets, although s...