»» Equities rallied, and the U.S. dollar and government bonds sold off following an aggressive monetary stimulus from the Fed. (page 2)

»» One of the final hurdles for a bailout of troubled European sovereigns was cleared as a German Court declined to interfere. (pages 2-3)

»» Global economic data remains generally lackluster but at least appears to have stabilized. (page 4)

»» We’ve upgraded our equity recommendation on Continental European stocks to neutral, and we’ve upgraded Asia (ex Japan) stocks to overweight. (pages 2-3)

»» Global Roundup: Updates from the U.S., Canada, Europe, and Asia. (pages 3-4)

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