Greek Tragedy moves to China As we celebrated the summer solstice, the longest day of the year, the Greek drama continues with a rumored agreement to continue the stimulus in return for promised reforms only to have Greek Prime Minister Alexis Tsipras announce a surprise referendum on July 5: after June 30 which puts the IMF payment into default. Late last week EurAsia Group’s … [Read more...] about Greek Tragedy Moves to China
Macro
Memorial Day Celebration – Markets at a Turning point
Memorial Day Celebration or Panic? While we prepare for Memorial Day barbeques, could the real fire be in Greece? The currency markets are showing growing pessimism over a deal with the Euro down to $1.10 from almost $1.15 last Friday. Greece needs to solidify an agreement to unlock the next €7.2 bailout tranche before its June 5 bond payment due to the IMF. The ECB announced … [Read more...] about Memorial Day Celebration – Markets at a Turning point