FINALLY SMARTENING UP

Could this be the moment when the Europeans finally change their ways?

I wasn’t planning on writing about markets this morning, but yesterday there were two developments that I need to address.

EU is finally getting their act together

It started with the move by the ECB. Under Madame Lagarde’s leadership, the ECB announced TLRTOs worth EUR 2.3 trillion. Not only that, they loosened the capital requirements and the rates on…