Draghi to the Rescue

Yesterday, ECB head Mario Draghi unequivocally defended the Euro, saying that they will do whatever is necessary to ensure the future of the common currency. Those remarks sent stock markets around the world soaring, including here in the US. Is this simply bluster, or is Europe truly willing to spend untold billions (trillions?) to save the currency? Did he ask Angela Merkel what she thought...

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Monday news

Lot’s of news today centered around Chinese M&A and earnings. The Chinese are taking advantage of lower prices to pick up some companies on the cheap. The big earnings story was that McDonald’s (MCD) had their first quarterly miss since 2005. Looking deeper it appears the majority of the problem was simply the strong dollar hurting their F/X conversions. Not a big deal to me. The...

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