stock market update

Markets, which were already up, just spiked.  Stocks are surging, Treasuries are tumbling, and the euro is exploding higher.

Bloomberg just reported that ECB president Mario Draghi would “hold talks in the next days with Weidmann to win backing ofor new raft of crisis measures.”

Jens Weidmann is the head of Germany’s Bundesbank.

Such options under consideration include “bond purchases on primary/secondary market, new [long-term refinancing operation], rate cut” according to Bloomberg’s John Fraher.

All of these options would be aimed at lowering borrowing rates.

Earlier this week, Draghi told an investor conference in London that the ECB would do “whatever it takes to preserve the euro.”

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