ECB Intervention Comment Du Jour: “Classic Banana Republic Banking”
by Tyler Durden
Today’s move can be summarized in one word: euphoria. The same euphoria every previous instance of central planning intervention has engendered, only to fade days, weeks or months later. But for the time being it will suffice, and send the S&P to fresh post 2008 highs. In the meantime, below is the definitive note summarizing what has just happened, courtesy of Pierpont Securities, courtesy of Bloomberg.
ECB Plan “Classic Banana Republic” Banking: Pierpont