Anticipation of ECB bond intervention boosts markets

Global equity markets enjoyed another positive day yesterday as rumours circulated that the European Central Bank was considering stronger action to boost the European economy and ward off any deflationary spiral.  Speculation that the ECB was readying a plan to buy corporate bonds which would help banks free up more of their balance sheets for lending was a positive catalyst for equity marks.  In the US the technology heavy Nasdaq 100 surged 2.6 percent, its biggest one day gain since early 2013, as Apple beat analyst expectations reporting Q3 earnings 13 percent higher than the same period last year.