NOTHING. ECB will committ to bond purchases, short term, sterilized!, IF AND WHEN a country ASKS FOR IT AND COMPLIES WITH IMF/EU GUIDELINES!!! Has anyone complied? Has anyone asked for the bond purchases? AND all of this during the Dem convention, ONE week after Ob's calls to EU !!! All a sham!!! What has happened today will not create ONE job! They have only given the politicians more room to abuse debts and deficits!!!
I thought that they had solved ALL of their problems in June? remember??? Now this? insanity!
This is well stated. Fundamentals and sensible debt structure are antiquated market catalysts. Today's market moves on headlines and somehow the ECB headline moved U.S. equities to unbelievable levels. The admission that Europe is losing control of their debt issues and the eventual demise of the Euro currency is disregarded by the markets... just like our own central bank perils are factored into the equation. It is sad but that is the game. 37 billion flowed out of equities the last week of August - so at least the citizens aren't going to get slaughtered. The eventual pullback will be a hedge fund vs hedge fund cage match, but they may not blink for months at the current pace.