Jul 26, 2010
| Last Updated
After much hype and media coverage, the European bank stress tests were released on July 23, after European markets had closed, and met a muted U.S. market reaction which was rather more interested in the immediate and clear positive stock price effects of a takeover offer for Genzyme than the lengthy summary released by the Committee of European Banking Supervisors (CEBS). While we suspect some positive market movement due to a better level of disclosure than expected, receding concerns of the Armageddon scenario and the approach of vacation season, the test[...]
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