Evan biking in the downtown area.
After the gap up start for the week good ol' S&P threw the eephus pitch and caught the market by surprise. I think the only real surprise is that they did it during market hours. That may be a good thing for all. The rater postures that they are doing their job (lol) and the market had time to digest the news. The inclusion of all 17 countries should give Merkozy a big stick and whip to herd the profligate spenders toward some modest austerity. We can only hope.