The headlines from Bloomberg tell you all you need to know today (actually not all you need to know, just what you need to know as far as the market cares about this minute). Bloomberg headlines:
•Euro, Global Stocks, Oil Rally on European Loan Plan; Treasuries Retreat
•U.S. Stocks Advance, S&P 500 Jumps the Most in a Year on EU Rescue Package
•VIX, Vstoxx Drop by Records as Stocks Soar on Europe's Emergency Loan Plan
•EU Crafts a $962 Billion Show of Force to Bolster Euro, Halt Global Crisis
So we have all been saved and the market is going up - up - up.
More later today on why all is not rosy.