Markets Surge And Then Pull Back On The IMF's Proposed Liquidity Program

mktindices

Photo: Google Finance

After being down by as much as 1% earlier this morning, stocks instantly spiked turning positive on news that the IMF was planning to offer a new liquidity program to stem contagion.However, some of the euphoria seems to be wearing off.  Probably because the markets are realising that such an action would require U.S. approval, which is a major hurdle.

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