After the strong rise of the last two days, there is the question whether the “benevolent” decisions from the Fed and Japan’s central bank are sufficient to restore positive sentiment of European investors or whether these valuations require new catalysts. This rally itself can be self-sustaining, for some time, because in theory the fund managers have a high level of liquidity in their portfolios. However, this liquidity can be used to feed the redemption of specialized equity funds in Europe. In fact, the week ending on 21 represented the 33th consecutive week of redemptions by American savers. Just last week, were redeemed 571 M.USD in specialized equity funds in Europe. Possible catalysts for a rise in European equities would be a decrease in yields and an excellent earnings season from European companies.