Will they call this the Summers rally or the Yellen rally? What a surprise. Things change fast around here. Summers is out, as Democratic Senators came out against him, and too much political capital would have been expended to support him. Political capital that’s waning by the day. The U.S.markets, as well as global markets ripped higher on the news. Ballmer and Summers, both with egos the size of Texas, will start a support group now. The “off the chart” market reactions to their respective resignations have shaken them to their emotional core. There is no app for this. How fast things change, Summers was a done deal as of Friday. Hearing Yellen just squeaked by Putin. Whew.
Stocks should be flying all over the place today. Have fun.
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