Remember how Draghi promised to do everything in his power to save the Euro? And how that statement made the stocks fly high? Well today he was dogding the bullets pretty well, taking the hot seat explaining in a Press Conference, that all the ECB can do, is give guidance and seemingly only in absolute apocalyptic conditions, the ECB MAY resolve to more active measures, compared to the guidance it offers. And Draghi kept stressing the word MAY, reminding us to very carefully read the wording of his statement. So plenty of wiggle room for the ECB while Germany makes the decisions, seems like. Draghi even went as far as claiming he never mentioned anything about a bond buying program! All he said is that the Euro is irreversible! Until it is not, at which point the ECB MAY give some more guidance? Basically it seems the ECB’s stand point is that only if Spain and Italy request a formal bailout from the EFSF, the ECB MAY start some kind of bond buying mechanism?…as I said plenty of wiggle room…markets are understandably very disappointed, as the Euro plunges to 1.21 against the dollar. Don’t mess with us Draghi!
More exciting news from the financial world! Knight Capital is making headlines, after losing $440 million of its capital to an erroneous trading position, caused by a glitch in the system. Knight Capital Shares followed the capital loss’s lead and cut themselves in more than half. Ouch! Knight Capital is one of the biggest companies out there providing liquidity to stock markets, and despite this mega loss, business is as usual today, as the broker dealer claims it is still operating within capital requirements. Well I guess these are the times where we are not as fond of our technological advances as we usually are.
More Gold for Team USA at the Olympics! Matt Grevers takes it home for the 100 Meter Backstroke, setting a new Olympic record! Missy Franklin earned it for her performance in the 100M backstroke also! Despite the incredible efforts and excellent results from team USA so far, we still have China in the lead with a total gold medal count of 17 and 30 medals total. USA is close behind it with 13 gold medals and 30 medals total! Go team USA!
Remember how Draghi promised to do everything in his power to save the Euro? And how that statement made the stocks fly high? Well today he was dogding the bullets pretty well, taking the hot seat explaining in a Press Conference, that all the ECB can do, is give guidance and seemingly only in absolute apocalyptic conditions, the ECB MAY resolve to more active measures, compared to the guidance it offers. And Draghi kept stressing the word MAY, reminding us to very carefully read the wording of his statement. So plenty of wiggle room for the ECB while Germany makes the decisions, seems like. Draghi even went as far as claiming he never mentioned anything about a bond buying program! All he said is that the Euro is irreversible! Until it is not, at which point the ECB MAY give some more guidance? Basically it seems the ECB’s stand point is that only if Spain and Italy request a formal bailout from the EFSF, the ECB MAY start some kind of bond buying mechanism?…as I said plenty of wiggle room…markets are understandably very disappointed, as the Euro plunges to 1.21 against the dollar. Don’t mess with us Draghi!
More exciting news from the financial world! Knight Capital is making headlines, after losing $440 million of its capital to an erroneous trading position, caused by a glitch in the system. Knight Capital Shares followed the capital loss’s lead and cut themselves in more than half. Ouch! Knight Capital is one of the biggest companies out there providing liquidity to stock markets, and despite this mega loss, business is as usual today, as the broker dealer claims it is still operating within capital requirements. Well I guess these are the times where we are not as fond of our technological advances as we usually are.
More Gold for Team USA at the Olympics! Matt Grevers takes it home for the 100 Meter Backstroke, setting a new Olympic record! Missy Franklin earned it for her performance in the 100M backstroke also! Despite the incredible efforts and excellent results from team USA so far, we still have China in the lead with a total gold medal count of 17 and 30 medals total. USA is close behind it with 13 gold medals and 30 medals total! Go team USA!