J P Morgan Chase, has set aside $10 bn for the salaries and bonuses of the investment bankers it employs (an average of $360,000). The second largest bank in the US this morning reported a 47% jump in profits for the last quarter of 2010. European government debt (from bailing out banks) has not deterred China from buying European government bonds. With this reassurance from human overseers, our upward trend in the markets is now for three months old, quite a long time for a volatile system run by computers talking to each other in New Jersey parking lots.
Banker's Community Trust (BTC) has started up. Even Allied Irish Bank (AIB) has a little smile on its face. Morgan Stanley is up: it remains a nice candidate for selling alternate calls and puts
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