Morgan Stanley announced its lifeline from Mitsubishi with just over an hour before the opening bell and now the stock is off to the races. Shares are up over 65%. But a little bit of perspective here. That barely gets them back to the middle of last week. And it’s way lower than where Mitsubishi entered in to the agreement (which is why the deal terms are so remarkable).
Goldman, meanwhile, is also rarin’ to have a nice pop, currently up over 8 per cent. No doubt today has brought about a major change in sentiment. We’ll see if it can be sustained.