Bonjour

(1) The wrong monsieur for the season? (2) Sarkozy, Hollande, and Trotsky. (3) The Socialist’s speech. (4) Everyone likes QE better than austerity. (5) A small bill auction goes well in Spain. The next test is a bond auction on Thursday. (6) French banks are deep in PIIGS. (7) ECB’s Operation Twisted. (8) Great vs. not-so-great expectations for earnings. (9) Sentiment is bearish, which is bullish. (10) Globalization hard to catch in earnings models. (11) IMF nudges up global growth. (12) IT stocks should meander along with rest of market before a summer rally.