Fed chief Bernanke says the government does not plan anything like nationalization for Citigroup. On the Stress Test touted by the Obama administration, banks will be told how much capital they need and will have six months to raise it.
Equities are making a comeback, helped in part by the Bernanke comments. EUR/USD is rising as a result, now at 1.2755.
Interbank traders tell us there is a wall of bids below 1.2700. Now they tell us…