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Headline: Equity resilience is no proof that the worst is over Source: Euromoney Date: November 2001 Author: Antony Currie A partial recovery in US equity markets looks promising. However, as bad economic news flows in there’s still uncertainty on the broader question of whether a market bottom has been reached. Bond yield curves suggest a different story to conventional equity wisdom, which implies investors should now be positioning themselves in mid-recession for a market upturn. On October 11, exactly one month after the attacks on the World Trade Centre that shut down parts of the financial markets for a week, the Nasdaq Composite stock index returned to its pre-attack level. |
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