The Eurozone IMF bailout has not soothed investor fears about the safety of Greek sovereign debt. Spreads between Greek bonds and safer issues continued to rise sharply. Fears that the Greek contagion could spread to other weaker Eurozone members led to a downgrade of Portuguese debt and a flight to safer German issues.
In cheerier news, consumer confidence rose more than expected in April as American’s felt more confident about the short-term outlook and employment picture. Housing prices rose 0.6% year-over-year in February according to the S&P Case-Shiller home price index. However, prices were down 0.9% from January levels.
(Greek’s new is the tool to hammer market down. but it’s nothing new.)
0 comments:
Post a Comment