ECB finally announced that it would intervene in the government bond market, something which it had said it wasn't considering, only last Thursday. While this is positive, it's also an indication of how much worse the ECB are now judging the situation to be. Probably the eventful Thursday and Friday trading helped a bit.
Also, the European Union and the IMF agreed on an emergency funding facility worth as much as €720bn ($930bn, £625bn) in loan guarantees and credits to the eurozone.
Guess we're likely to see a rally today, less the market deems this too little too late, but asia is up 1.6% now so it seems good. It'll be a while before fundamentals are back in play again, but at least we'll be getting out of defensives today.
Miss Christian was at the circus yesterday with my niece and nephew. Concluded that all in all they have revenues of about GBP 60 000 per show at the most. No wonder the sea lion wrangler has to man the popcorn booth in the intermissions.
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