The most recent adjustments can be considered as an unwinding of investments made during this period. Global investors' stance toward risk-taking may have become more assertive in the wake of their success in dealing with the global risk reduction as well as the relatively modest volatility in financial markets seen subsequently.
This more assertive risk-taking  BIS Review 33/2007  1  behavior seems to have been modified in response to the plunge in Chinese stock prices and the release of some weak data on the U.S. economy.