Stock markets worldwide extended the monster bear market rally last week amid a favorable response to the bank stress tests and better than expected employment numbers. After a 40% rise in equities since March 9th, many believe the bear market is over. So has the market issued the all clear signal? While huge government stimulus, coordinated across the globe, has cutoff the Armageddon scenario, we believe it is too early to expect a healthy recovery any time soon.
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