European equity and bond markets this week are taking the tact that Greece will be “solved” or a least be a non event, since the alternative is too catastrophic to trade.
Currency traders are not taking as much Zoloft however, as Fx traders have sold off the euro against the dollar for safe keeping.
Gold is up in euro terms while it has retraced its $25 jump late last week in dollar terms.
So where does that leave stocks here? Going higher despite dollar strength, as we foolishly debate whether Alexander Hamilton or Andrew Jackson deserve to remain on our currency.
For the record I am behind Jackson for getting rid of the 2nd US national bank.
This time next week we get the 3rd reading of Q1 GDP and I’m sticking to my original prediction of -1.1%. The newest data being looked at for this reading will show slowing exports and growing imports, which drag down GDP.