Markets Are Up Around The World

Britain's FTSE 100 is up 0.7%

France's CAC 40 is up 0.3%.

Germany's DAX is up 0.3%.

Spain's IBEX is up 0.5%.

Italy's FTSE MIB is up 0.2%.

Later today, we'll get monetary policy announcements from the Bank of England and the European Central Bank.

"Unlike El Guapo with his plethora of pinatas, each filled with "little surprises", we are unlikely to find great surprises among the plethora of G10 central bank meetings today," wrote the currency analysts at Societe Generale this morning.

"Given the upcoming Fed taper announcement (on 18 September), we expect Draghi to reiterate the ECB's forward guidance with reference to the possibility of lower rates," they added. 'He needs to keep a lid on peripheral bond yields. Although the EA is undergoing a recovery, money supply and credit growth remains weak and the disinflationary trend is still evident."