China Buys Greece

Everyone just waiting for that rumor that will fix everything. The reality is Greece is heading for hard default and too many people are saying it won’t happen that it cannot be priced in. We haven’t had a good ugly overnight session in awhile. Maybe tonight is the night?  European credit closed very weak. The noise out of Europe is not good and today’s data was weird at best with the headline number not confirmed by similar strength in the components. From my market research class I remember it was important to have multiple questions getting at the same question because people lie, they just aren’t good at lying consistently – except at bonus time 🙂