Draghi tells Spain and Italy that ECB will buy their bonds...

Draghi tells Spain and Italy that ECB will buy their bonds provided they agree to certain "conditions".

Markets rally FTSE 2.1%; DAX 2.9% and CAC over 3%

Dow Jones heading for highest close since December 2007; S&P500 for highest since November 2008 and NASDAQ trading at highest levels for 12 years!!

NASDAQ up 24% year-to-date;
DAX up 22.5% year-to-date.

What's not to like?

Surely, the Spanish and Italians will step up to the plate this time, no?!

Index	6/09/2012	31/12/2011	31/12/2010	31/12/2009	31/12/2008	31/12/2007	31/12/2002		10yrs	5yrs	v2008	v2009	v2010	YTD
Nasdaq 100	2,825.30	2,277.83	2,231.63	1,878.65	1,173.15	2,107.05	989.89		185.4%	34.1%	140.8%	50.4%	26.6%	24.0%
DAX	7,167.33	5,848.78	6,972.10	6,011.55	4,810.20	8,045.97	2,898.68		147.3%	-10.9%	49.0%	19.2%	2.8%	22.5%
SPX 500	1,430.35	1,263.02	1,257.64	1,126.42	869.42	1,478.49	879.39		62.7%	-3.3%	64.5%	27.0%	13.7%	13.2%
SmallCap 2000	838.90	741.50	782.40	632.20	482.30	773.90	379.00		121.3%	8.4%	73.9%	32.7%	7.2%	13.1%
CAC 40	3,509.88	3,127.56	3,890.65	3,959.98	3,217.13	5,627.25	3,063.91		14.6%	-37.6%	9.1%	-11.4%	-9.8%	12.2%
US 30	13,277.50	12,287.00	11,569.70	10,545.40	8,776.39	13,359.60	8,332.85		59.3%	-0.6%	51.3%	25.9%	14.8%	8.1%
S&P/ASX 200	4,312.90	4,071.10	4,745.20	4,833.30	3,654.20	6,339.60	2,992.70		44.1%	-32.0%	18.0%	-10.8%	-9.1%	5.9%
FTSE 100	5,777.34	5,572.28	5,899.94	5,412.88	4,392.68	6,456.90	3,900.60		48.1%	-10.5%	31.5%	6.7%	-2.1%	3.7%
Hang Sen 40	19,209.30	18,593.06	23,035.45	21,872.50	15,042.81	27,519.69	9,321.29		106.1%	-30.2%	27.7%	-12.2%	-16.6%	3.3%
Japan 225	8,680.57	8,455.35	10,228.90	10,638.10	8,859.56	15,413.40	8,714.05		-0.4%	-43.7%	-2.0%	-18.4%	-15.1%	2.7%
XSO	2,176.50	2,207.60	2,892.50	2,611.70	1,647.10	3,845.40	1,487.40		46.3%	-43.4%	32.1%	-16.7%	-24.8%	-1.4%
Shanghai	2,051.92	2,199.42	2,759.58	3,277.14	1,820.81	5,361.57	1,319.87		55.5%	-61.7%	12.7%	-37.4%	-25.6%	-6.7%