rallied 9.4% as of the midday break, after plunging 12% on Monday in its biggest one-day percentage drop since October 1987.
"Combine those factors with a market that so far hasn’t seen the usual and bi-annual pullback or correction of 5-10% this calendar year - and you had a so-called rug pull. We think volatility will persist over the next few weeks and stock prices direction will be dictated by the upcoming results season in Australia and the U.S. during late August.""It is hard to say the worst is behind us ... pressure might linger a little bit.
"That said, the fact remains that markets are generally still at or near highs, so the severity of the correction remains unclear. Corporate bonds remain well insulated from the market shock, so any outflows, which could be a catalyst for further declines in already stressed markets, are likely to be muted and we even see a possibility for inflows.""It is hard to know what the stress point for the sell-off was.