GOOD DAY FOR: Loonie banking, after a World Economic Forum survey found that Canada has the world’s soundest banking system. Britain, once in the Top 5, came in at No. 44, while the U.S. ranked 40th. Rounding out this year’s Top 5 are Sweden, Luxembourg, Australia, and Denmark. (Reuters)
BAD DAY FOR: Happy anniversaries, as the Dow Jones Industrial Average hit its record high a year ago today; yesterday it closed down 189 points, to a five-year low, continuing a six-day, 15 percent slide. The coordinated interest rate cuts were like a timely ambulance arriving, said Art Hogan at Jefferies & Co. Traders were relieved, but “then they stop and think . . . right, we need an ambulance.” (The Wall Street Journal)
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