The fear of a brief melt up in response to the eventual Greek rescue is why we covered shorts yesterday.

Ahead of the confidence vote in Greece tonight, the euro and European markets are bouncing higher off of three-month lows. Asian stocks are also in the green.

I am running off to speak to Fund Allocators from Europe at a Citywire event — but I will be back later.

Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Euro-Greco Bounce”

  1. rktbrkr says:

    How much is a Greek promise worth, less than a Euro I’d say. In the final analysis they won’t be able to pay the full amounts they’ve borrowed already, they can’t do it and neither can the Irish (whose government is actually bailing out the big continental banks). The PIIGS are running a financial gauntlet that keeps getting worse.

  2. realgm says:

    Kicking the can down the road had been working, so I wouldn’t be surprised to see a rally for awhile.

    EU knows Greece would have to default eventually, but they are still trying to buy some time (while making the problem even worse) in hope that Spain can get going.

    However, Italy is the next PIIGS to be bailed out.