It’s all about stress tests ... and green shoots.

“It’s all about the stress tests,” exclaimed a Bloomberg news reporter this morning.

She’s got that right. So far the unofficially released results are “reassuring,” and the currencies (with exception of the US dollar, of course) mostly love it.

The generally accepted reason for these stress tests was said to be for replacing uncertainty with transparency. Ahh yes ... transparency. Thank goodness for that. (For those unaware, ‘transparency’ is a common buzz word used in the public forum to evoke that warm and fuzzy feeling.) From this point on, we know where we stand