Greek 'default' assured

Well the Greek default seems to be a reality and here’s why.

The big three ratings agencies have come out with reports saying that a missed payment to the EU and IMF would not be a credit event and trigger a default.

This way there is no contagion downside in the markets so let it rip.


It appears from Thursday’s markets the sell in May and go away crowd got a jump on the beach crowd and sold off to book profits.

But to reinforce the lack of memory and being the 1st of the month, Dow futures are up 90 points.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s