The following picture from William Banzai does a good job of summarizing why today the victory may not have been for the bulls, courtesy of a strategically placed and timed rumor, it surely allowed Angela Merkel's euro contagion band to survive one more day. In the meantime, we expect rumor #4 of 2011 that China will bailout Italy (after it was buying Greek bonds, and then Portuguese, then actually balked at buying Italian bonds) to squeeze everyone, and then to fall apart as these things always do in a concerted global Ponzi scheme.
Angela Merkel's Euro Contagion Band Comes Through In The Last-Minute Clutch
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