The latest bounce in global markets could be a blip, rather than a trend

Global markets are rebounding -- with Japan's Nikkei recording its biggest ever index spike, only a day after recording its largest ever one-day drop.

The volatility's been sparked by worries over the rapid appreciation of the yen, and fears of a US economic slowdown.

Greg Smith from Devon Funds Management says rate cuts are on the way, and we still seem to be heading for a soft economic landing.

He says markets don't move up in a linear fashion, there are corrections, and only time will tell whether there are more bumps in the road.