Is the European crisis ending?
U.S. money-market funds are upping their investments in European banks, the FT reports. This is “a huge sign that the European crisis is ending,” writes Joe Weisenthal. “It’s encouraging but still highly subject to event-driven risks,” Chris Conetta, head of commercial paper at Barclays Capital, tells the FT. I’m going with “it’s too early to tell,” but given that nothing fundamental has changed in Europe, I wouldn’t read too much into this indicator.
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