Thursday, October 27, 2011

Deja Vu All Over Again

Today's 36 point S&P 500 rally is pretty spectacular, but it's not the first such move that's been triggered by talk of a European solution.  Remember May 2011?  Shortly after the flash crash the Germans and French announced the first iteration of the EFSF and the S&P 500 rallied almost 40 points.

The first EFSF obviously didn't solve the problem, but that's not to say that this one wont.

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