Everybody’s Watching Greece
Record Bund/Greek government bond spread is crucial market moving factor today. A lot of rumors on the issue. Bloomberg story: Papandreou Says Rumors Hurt Greece, Not Seeking Aid. As I wrote before I expected a meltdown before this weeks bond issue, but apparently they manged to sell the bonds, but the pain continues…
Durable orders rose 0.3% in December vs. growth of 0.2% in November and a consensus of 1.6%. The talk of improving labor market was corroborated by 470.000 new jobless claims. The consensus was at 440.000, prior reading at 482.000. Yeah, it’s improving…
The market definitely looks biased to the downside.