Quote:
Originally Posted by Nancy
Markets turned sharply higher today on news of Citigroup profits in the first 2 months of the year.
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That news is a lot more important than people think. Citibank used to be the world's largest bank and as such is a major counterparty in a huge percentage of world financial transactions. They are the real posterchild of an entity that is 'too big to fail.' Any positive news from them should improve the markets.