Vital Statistics:

Last Change Percent
S&P 500
+11.54 +01.75%
Eurostoxx Index
+39.44 +1.91%
Oil (WTI) 90.01 0.62 0.69%
LIBOR 0.45 -0.002 -0.41%
US Dollar Index (DXY) 82.51 -0.31 -0.37%
10 Year Govt Bond Yield 1.51% +0.076%


ECB chief Mario Draghi said the words that many worried European officials had longed to hear: ‘Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. . . . Believe me, it will be enough,’ he said.

I apologize for the brevity – I barely had time for this.

Ezra Klein has been substituting on The Rachel Maddow Show this week and has been doing a series of short video explanations of some of the financial stuff going on lately.  Here’s his one on LIBOR:


Between this and Scott’s series I think I actually understand LIBOR and why it’s a problem if the rates were actually manipulated now.

Here’s his explanation for how and why to break up the big banks:


And here’s his translation of this sentence from the Bloomberg site: Draghi: Yields disrupting policy transmission are in ECB remit


Ezra has gotten better and better on-camera, and I’ve enjoyed the way he’s able to boil complex concepts down verbally now as well as “on paper.”

Michigoose’s contribution to our collective financial expertise

%d bloggers like this: