European stock markets looked to recover some ground early on Tuesday on hopes of a round of stimulus measures as the market tried to rally the troops after the rout of Black Monday. Investors are licking wounds and there is a stabilisation of the rout, but this looks like a short-term bounce on oversold levels, not a meaningful turn. It smells like a dead cat. The stimulus is coming, but the situation on the ground gets worse. It seems comments from Donald Trump, and overnight some emollient tones from the Japanese authorities, are helping.
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