“HCS Worldwide” sources say the European-based investment manager was reportedly stunned by US Congress’ rejection of the much-heralded $700bn bailout package.
According to a source at “HCS Worldwide”, analysts expressed disbelief at the result even though are close result had been expected given the political wrangling that had surrounded the plan during intense bipartisan negotiations over the weekend.
“HCS Worldwide” apparently remain confident that an amended bill will pass a new vote but not before volatility in both equity and credit markets intensifies.
The “HCS Worldwide” source said that the DJIA would more than likely rally as investors held on to the hope of a new bill being hurried through.
