For the past few months, all eyes have been on Greece and Dubai as the two countries struggle to deal with a growing debt crisis. Fears of insolvency have abated somewhat with recent, but vague, promises of support from other EU nations in the case of Greece, and the delivery of a massive bailout to Dubai from fellow United Arab Emirates nation, Abu Dhabi.

This new-found confidence has helped push emerging-market stocks to a six-week high. Commodities have also rebounded with a corresponding increase in the currencies of those nations exporting oil and metals.