Endgame ahead

Archive for the ‘ECB’ tag

Current European market summary

without comments

Quoting Peter Tchir of TF Market Advisors:

[…] we are back to rallying on headlines and sound-bites and hopes that “Europe Finally Gets It”   Maybe this time the details won’t disappoint.  Actually, maybe this time we will get to the details, since so many of the last few rallies were based on rumors or plans that never even made it to the detail stage.  In the meantime I will try and figure out how Italy providing money to EFSF so the EFSF can buy their bonds, how Italy contributing to the ECB which buys its bonds, how Italy providing money to the IMF to buy Italian bonds, and Italy working on plans to save Italian banks whose exposure to Italy is a part of their problem, fixes anything.

Yep, that seems to sum it up nicely.

Written by mo

October 5th, 2011 at 12:41 pm

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