The current rise in the markets is not a bear market rally, but actually a turn for the better, according to Fidelity U.K. portfolio manager Anthony Bolton, Reuters reports.

Bolton, who is president of Fidelity International, is particularly enthusiastic about bank stocks, which he sees as beaten down but poised to be the first sector out of the crisis since it led us the way in. “They are among the cheapest stocks [and] the most under-owned stocks, and I think for those reasons they will do well. Financials that took us into the crisis will actually be the stocks that will lead us out of the crisis.”

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