What is the status of market confidence?

It has been said previous to the recession that the fiscal markets have been experiencing the catastrophe for almost 18 months up till now was one of confidence or a lack thereof. That would mean that, although the viewpoint for the worldwide market is depressing, a recover in investor sentiment could make changes in the markets. This is an estimate that up to now is founded on price action rather than fundamentals. Examining through the markets, there have been uncertain rallies in risk appetite estimated through equity indices, corporate bonds and the currency market. For the FX world, potency in the Australian dollar, New Zealand dollar and yen crosses have triggered a sustained advance in the Carry Trade Index.