#BREAK THE BONDS QUEST WOW UPDATE#

He makes moves when others are moving away. It is all about, get in when others are getting out, and when there is not confidence in a company. And this is a classic Buffet move, Richard. This is a clear sign of confidence in one of the biggest banks in the world. POPPY HARLOW, CNNMONEY.COM, CORRESPONDENT: In one word, 'confidence'. Of course, I forget to say core moment, join the crisis.

Right now the shares are of course at 9 percent at Bank of America. Warren Buffet's investment is a confidence, of voter confidence in the company. The shares surged more than 20 percent in early trading. Buffet says that Bank of America is strong and well led. There is also an equity conversion into it. He's doing it by preferred shares, which will pay a 6 percent dividend. There was a fascinating bit of boosts to moral from Warren Buffet, who is making a $5 billion investment into Bank of America. And that seems to be what is driving this. And the thinking is if there is to be QE3, this would be an opportunity either to confirm or to stop the rumors. He used it as a drop, to drop hints about QE2, this time last year. The market is clearly deeply worried about what may happen the Allan-not Allan Greenspan-Ben Bernanke-showing me age-gives his Jackson Hole speech to central bankers tomorrow. So a down day, particularly for the German market, and without any real justification.Д«ut this is what is happening in New York at the moment. And we also know today that because of worries about what is happening in Greece, Greek bonds once again roared up over 18 percent, 17 percent, which were at a Eurozone high. However, France did extend the ban on short-term selling. So that seems to be holding for the moment.

#BREAK THE BONDS QUEST WOW UPDATE#

Three main ratings agencies said there was no update on Germany's AAA. Rumors that Germany will ban short selling, worries over AAA ratings. Look at the numbers while I tell you what was behind them. What had been a relatively encouraging session suddenly turned turtle and went rather unpleasant. Join me in the library and you will see what I mean.

We had been on course for share gains until later in the afternoon when the main markets suddenly ditched into the red. Don't forget it is at Jackson Hole where Ben Bernanke will give his speech to central bankers.ДЄnxieties return to Europe. The Fed maybe working on some kind of solve for the battered American economy. The volatility of last week is back and traders wait for word from Jackson Hole in Wyoming. Investors are slamming on the breaks and this week's rally seems to head straight into a brick wall.

The message from the man replacing Steve Jobs. RICHARD QUEST, CNN ANCHOR, QUEST MEANS BUSINESS: Buffet buffers the market with a bailout of Bank of America.ДЄnd the Apple doesn't fall too far from the tree. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED. Battle for Tripoli Continues Jobs Void Fed's Next Move Diageo Cheers Earnings Buffet Buffers The Market With A Bailout Of Bank Of America Apple May Not Be The Same Company Post Steve Jobs, But It Can Still Be A Great Company, According To A Former Apple Evangelist

Break the bonds quest wow