US and European stocks staged a tentative rebound yesterday following the previous session's sharp sell-off, although the underlying mood remained cautious as investors re-evaluated the outlook for risk.
The optimism about the global economy that has buoyed equities, credit and commodities over the past few weeks was dented on Wednesday by a weak set of US retail sales figures.
“The recent upturn in data is beginning to show signs of crumbling,” said Rob Carnell, economist at ING.
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