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1·Such frothiness may return if anxieties about Europe's Banks are resolved by official stress tests.

如果对欧洲银行的焦虑被官方的压力测试解决，这样的泡沫可能反弹。

2·What is scary is that the current frothiness of emerging markets, centred on China, may be only a taste of what is to come.

令人恐慌的是，以中国为中心的新兴市场目前的泡沫可能只是未来危机的冰山一角。