US stocks soared on Monday after Treasury secretary Tim Geithner detailed his proposals for public-private partnerships to deal with banks’ toxic assets and prominent investors such as Pimco’s Bill Gross and BlackRock’s Larry Fink said they would participate. The S&P 500 rose more than 7%, the biggest one-day advance under the Obama administration, driven by financial stocks. Investors seemed particularly enthused by the government’s proposal to arrange JV financing on generous terms. See the Treasury’s fact sheet here.
