Equities are in rally mode on the notion Spain is close to a bailout. Good data around the planet has also helped to get the risk on trade going.
Meanwhile the finance minister of Germany had some comments that may get some people excited: ”
“German Finance Minister Wolfgang Schaeuble has called ahead of an EU summit for a great leap forward in European integration, urging the creation of a new commissioner with power over budgets and reform of European Parliament decision-making.
Such a reform would accelerate the trend towards a two-speedEurope whose inner core would be the euro zone, spurred towardscloser union by its three-year-old sovereign debt crisis.”
All in all we had some decent earnings reports this morning and investors have thrown caution to the wind.
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