The quantity of news articles and blog post on Greece reached greatest number ever. Too much of attention to a issue that is important to the markets only if we look at it as a warning signal.
The U.S. trade deficit unexpectedly rose to $40.2 billion vs. $35.7 billion consensus and $36.4 billion November. Well, the U.S. deficit problem remains.
The MBA Purchase Index fell 7.0% vs. growth of a 10.3% the week before.
Markets, not much happening today. Mr. Bernanke raising rates is not going to exactly move the risky assets. I will be interesting to see the tomorrows jobless claims. Three consecutive elevated readings would be one more nail in the recovery coffin.