Yes, more Greece, ever more Greece. Well, the focus is still very much there.
Just as China was closing for trade and Europe was opening, something previously unseen happened:
While the Chinese are long to bed, futures continue to trade on their exuberant stock market... and it's going south in a hurry.
Well that escalated quickly...
DAX is plunging this morning, hitting news lows for the day, as the last 2 days have been the biggest drop in the Q€-juiced index since mid-December.
A few days ago, when looking at the latest quarterly compendium of humor, aka the IMF's world economic outlook release, we showed the reason why economists are such horrible forecasters: all they do is extrapolate trends.
Would this save the world economy? The world's central banks have a problem.
Data from the Bank of Greece for March shows net Target2 liability for Greece increased by another €5.27 billion in March to €96.427 billion.
Generally, the IMF is wrong every which way about nearly everything.
First it was DSK with his 'frequent' sex-parties, rape charges, and pimpin' hookers.
Athens could force pension funds to transfer assets to the government as desperate Greeks tout possibility of delaying IMF repayments
Japan overtook China in February as the top foreign holder of U.S. Treasury securities, a position Japan last held in August 2008.
One proposed solution to Greece's European debt problem is for the Mediterranean country to abandon the euro and resurrect its old currency, the drachma.
The Reserve Bank of Australia (RBA) will not intervene in oversight of digital currencies such as bitcoin at the moment, The Australian Business Review reports.
Greece is getting ready to default on at least some of its debt payments, according to the Financial Times.
Citibank's Global Chief Economist Willem Buiter is another in a line of economic idiots (sorry, but no other word is more accurate) who call for abolishing cash and taxing deposits.
Just days after Russia lifted sanctions on providing anti-aircraft missiles to Iran, Reuters reports that The Greeks are in talks with Russia to purchase missiles for the S-300 defense system.