All weekend, the brilliant Warren Buffet regaled his acolytes in tales of Wells Fargo’s supperior deposit gathering ability, allowing them to fund themselves at the lowest rates in the industry and that the bank (one of his largest holdings) had passed the Buffett stress test.. He continued that line this morning in an extended CNBC interview.
A few hours later, the AP reports that the Fed’s have told Wells to raise more capital. Oh, and they were put on wattch for a downgrade by Moody’s. Maybe old Warren is losing his fastball.
EUR/USD has pullbed back below 1.3400 after a brief sprint to 1.3425. Stops from day traders will be clustered just below the 1.3340 level near-term.
Stops above 1.50 in cable, and above 0.74 in AUD have been triggered.
