With interest rates racing to the bottom and effectively hitting 0 percent in the United States, banks will take more risks and start lending the money around. "I think they will be forced to do that in 2009," Kevin Sullivan from Clariden Leu said. This may happen in the first quarter of the year, when banks will start buying more corporate bonds.

Global stocks were up in thin trade on Tuesday as 2008 comes to an end with a hint of optimism that the government stimulus plans will work next year. Government bonds rose as investors appear to want some peace of mind over the New Year's holidays. Experts tell CNBC where to invest in this bear-market rally for the short term.

Squawk Outside the Box takes a look back on a tumultuous year for the financial markets with Michael Browne, portfolio manager from Sofaer Global Research, and Julian Pendock, partner from Senhouse Capital, giving their insight into the market-moving events.

Oil could rebound substantially in 2009 to an average of $65 a barrel, according to David Hart from Hanson Westhouse, as demand will pick up again as the year goes on.