Wall Street Journal
July 28, 2010
Things are finally going Europe's way.
In recent weeks, after months of crisis and questions, a number of market indicators have turned positive. Riskier sovereign debt has rallied, credit-default insurance costs are at two-month lows and the euro is flirting with an 11-week high against the dollar.
Ebbing fear in Europe has helped bring relief to other markets around the world, including U.S. stocks. But there are also signs of lingering market unease and little hope that the long-term problems dogging Europe have been solved, suggesting the welcome market reprieve may be temporary.
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