Bull rally in a global bear market

03/24/04 - Dresdner Kleinwort Wasser.

LONDON, March 24 (New Ratings) - Analysts at Dresdner Kleinwort Wasserstein say that the current rally in the global equity markets is likely to end in the near future.

In a research note published this morning, the analysts mention that the global equity markets are currently witnessing bubble echoes due to the investors' conservative bias. Based on the historical evidence in the US markets, the analysts believe that the current rally would end in the near future. Currently, stocks are overvalued and a true bull market would emerge once valuation levels decline, the analysts add.