The US financials were the cause of a lot anxiety for the past few months. The Bloomberg noted that it was the Black Swan event and once the government appeared to have a handle of the financial situation, we could see confidence start coming into the markets.
Earning results would be bad but the threat of total financial collapse were the over reading fear. There are talks now of the second Stimulus Package - this may gain some momentum support.
Also a few US blogs that I have watching - had put bullish noises since last Thursday. So it was amazing call on for them...
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