Gentlemen (and ladies), you may start your engines. Because markets will be absolutely banoodles today – end of quarter window dressing, especially important after a quarter like this one, plus the surprise news from Europe:
After a marathon meeting in Brussels, European Union leaders opened the door to letting the euro-zone rescue funds buy bonds from troubled countries in an effort to pull down yields. Leaders also agreed on a widely anticipated 120 billion euro ($151.1 billion) growth package.
Instead of Hot Links this morning, I’ve pulled the best stuff on what the Europe announcement means for you, see below:
How Italy and Spain Defeated Merkel at EU Summit (Spiegel)
Analysts and strategists around the world react to the late night deal (most skeptically). (FT Alphaville)
Simone woke up and wrote this at 5 am so worth reading for that alone, but here’s why so many investors are still doubtful about the deal: (Business Insider)
Goldie’s pushing European sovereign bonds at their clients in the wake of the E-TARP announcement. (Zero Hedge)