by Chuck Butler, President, Everbank World Markets
Daily Pfennig, Casey Research
Good day. And a Happy Friday to one and all! The end of a very long week! Right now, I can hardly wait to get home, sit down in my chair and take a nap! But, that’s 9 hours from now, so. I had better get it in gear! Speaking of getting it in gear, I had thought that maybe my beloved Cardinals were doing just that, but they lost a game in the 9th inning last night that they should not have lost. UGH! After the miracle of 2011, I must be careful talking about when it’s become too late to make a move!
The Big News this morning, comes from Canada, but it’s about the Eurozone. I told you the other day that German Chancellor Angela Merkel was in Canada, saying great things about Canada. Well, when asked if she supported the European Central Bank (ECB) proposal to buy bonds to help lower borrowing costs in countries such as Spain and Italy, with strict conditions, and only if the Governments act first by buying debt through Europe’s bailout funds. And the audience, and markets held their collective breath for an answer from the German Chancellor.