QE for PIIGS? Leaks. Energy

(1) Bond Vigilantes more vigilant in Europe than in US. (2) Europeans’ latest schemes haven’t contained contagion. (3) The truth hurts: Angela Merkel wants bond investors to share in bailout costs. (4) Willem Buiter wants ECB to intervene. (5) When will the blank checks bounce? (6) Leaks confirm that the world is spinning out of control, and are bearish for P/E. (7) Forward earnings remains bullish. (8) In November, 22 industries in S&P 500 had record high forward earnings. (9) Energy should continue to perform well. NOTICE: Our Morning Briefings are now available on FactSet.