Bad news is good news

[Joelle]

Bad news is good news
      

There’s nothing that markets seem to like these days more than multibillion dollar write-offs. Citigroup posted its second straight quarterly loss, hurt by more than $15 billion in write-downs and increased reserves for credit losses. The loss and the company’s revenue were both worse than expected, yet Citi shares rose strongly in premarket trading on [...]
         

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