The story below is from September 15th.
On September 9th, SPX closed at 1154. On the morning of the 15th the “unprecedented” global co-ordination was put in place. SPX went to 1210 that day, closed at 1216 the next and was at 1130 by September 22nd.
History doesn’t repeat itself, but it seems like no one remembers September?
BN 09/15 13:52 *ECB COORDINATED POLICY ACTION IS `BIG DEAL’ SAYS BLANCHFLOWER
ECB Coordinated Policy Action Is ‘Big Deal,’ Blanchflower Says
2011-09-15 14:00:29.914 GMT
By Garth Theunissen
Sept. 15 (Bloomberg) — The European Central Bank’s plan to
lend dollars to euro-area banks in coordination with the Federal
Reserve and other central banks is a “really big deal,”
according to Dartmouth College Professor David Blanchflower.
“The fact that these central banks have acted together and
said we’ll backstop banks is really big news,” Blanchflower
said today at the Bloomberg Markets 50 Summit in New York.
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