Financial markets endured another week of volatility as investors continued to fret about inflation and interest rates, particularly as they considered the implications of a new pair of hands at the tiller of the Federal Reserve.
Weak US consumer confidence data from the Conference Board and news of an inquiry into accounting practices at General Motors rattled the markets, although there was mostly positive news on the US earnings front.
The nomination of Ben Bernanke, a White House economic adviser, to succeed Alan Greenspan as Fed chairman initially triggered a strong rally in the US equity markets, but also saw a steep sell-off in bonds.
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