Stocks in Asia went wild overnight, as the Nikkei rallied 4.6%, the highest its been since November. Hong Kong gained over 2%, while various other Asian markets rallied as well.
Europe is also getting in on the action, as the London, German and French markets are all trading up over 1%.
Helping shares in Europe: A profitable quarter from Barclays (BCS), which is getting good rNesults from its Lehman unit. With a balance sheet bigger than the GDP of the UK, it poses a huge risk to the entire country if it fails. Alas at the moment, that’s looking less and less likely.