If not for Bernanke, Spain would have been the lead story in tomorrow’s papers/ The region of Catalonia was downgraded to junk, Bankia required another capital injection and bad bank plan was unveiled to tepid applause…
EUR/USD is off its afternoon lows in the high 1.2550s but still below the key area between 1.2585 and 1.2595 where the bulls can breath a sigh of relief on the close.
Stocks are gaining once again and Treasuries are near low yields for the day with Bill Gross finally going on record for a move to QE sooner rather than later. He sees such a move in “the next month”. Well the next meeting is September 12-13. I guess we have him reluctantly cornered into calling for a move at the next meeting, though he left some wiggle room.
