"I'm not sure about timelines, but my better half works in The City. Interestingly, she tells me that there is an optimistic feeling that commencement of recovery is in sight. For that last year these chaps have been rather melancholy."
I can tell you the focus in the city at the moment is firmly on surviving the next round of jobs cuts that will be coming in the next 2-3 weeks.
It is end of the first financial quarter and the knife is about to fall again. With headcount already down c30-40% at most big investment banks another 10% means that if you were "average" last year (in a pool of individuals with "3A stars" and a 1st class degree as many folks have) you are now sat in the firing line.... on a positive note we are probably 2/3rds of the way through the job cuts in the city so surviving the next wave of headcount reduction will be a relief for many.
As for the bear market rally... the last time we saw 7-8% moves in a day on the major market indices like we saw this week was back in the Great Depression. Volatility is a sign of uncertainty in markets and whilst I hate to p8ss on your parade this is a bear market rally.... just that.... give me the 1-2% moves on a daily basis that we are used to in "normal" times.
When we have paid down or inflated away c20-30% of the debt we have accumulated we will be in better shape. Buy a house now if you like.... if you can get 30-40% off the asking price
