The short trading week on Wall Street doesn't mean there's any shortage of news for traders and investors to get through, and we've got some familiar themes to cover.
Let's start with Greece. New week, new story, new worries. Or hopes. In other words, the roller coaster continues. This time the news appears to be on the good side, with indications that a deal to help the country avoid default may be near. That was helping stocks out in the U.S. But there's still plenty of anxiety about the country and the rest of Europe, and that reality will no doubt continue to play out in the markets as long as there's any uncertainty.
In the states, economic news was heavily influencing the conversation, and not necessarily in a good way. The S&P/Case-Shiller housing index was dreadful, meaning the home slump that became painfully obvious in the 2007-08 period continues to not only drag on, but show at least some signs of actually worsening. Speaking of worsening, Americans aren't feeling terribly optimistic aboout the overall economy these days, according to the latest survey of consumer attitudes.
Maybe we should just go back to the start of that three-day weekend.
ON THE BLOGS
* The Risk of Political Unrest Increases in Europe - Pragmatic Capitalism
* Greece Bailout Postpones the Inevitable - Glen Bradford, via Seeking Alpha
* A New Latin American Powerhouse Region - The Reformed Broker, via StockTwits
* It's Official: Housing Double Dip Is Here - The Big Picture
* Another Hangover - Seabreeze Partners
* LaMonicaBuzz by ritholtz - One of the euro stocks up big today is National Bank of Greece. $NBG surges 11% pre-market -- albeit from just $1.30 a share to $1.44. Opa?
* optionmonster - Still can't believe Goldman Sachs lost nearly all Libya's $1.3 billion in 9 equity trades / 1 currency transaction. http://on.wsj.com/llL7qW
* tradefast - DJ says china's yuan would rise ~60% without intervention (this would put an abrupt end to china's inflation problem)
* BloombergFX by BloombergNews - Greek aid package in June? The euro seems to think so: http://bloom.bg/klEHIq
IN THE HEADLINES
* Yield Drop Finds Traders Scrambling to Reverse Bets - WSJ
* Beware the Hype in China's Story - WSJ
* Will the Egypt Stock Market Rally Continue? - CNBC
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