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Later today the ECB makes its decision on interest rates.The range of forecasts is all over the map, though the majority of economists think there will be no change.
That being said, markets are booming. [And booming even more—update 6:45 EDT]
Italy is up 2.3%.
Germany is up 1.7%.
Spain is up 3.7%!
Dow futures point to a 100 point open.
Gold and silver are rallying very hard.
Other than ECB anticipation, the other big news is the confirmation that QEIII is now seriously on the table at the Fed.
UPDATE: Headlines about a European banking union or deposit guarantee scheme are also making the rounds.
Also, one more thing from overnight that’s helping risk appetite: A surprisingly strong Aussie GDP report.
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