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Greek Concerns Mask Improving Economic Data

By Matthew Kerkhoff

 

I think it’s about time Netflix created a new drama show called House of Cards, Greece. Never mind … I already watch that show for six and a half hours a day, every day. Frankly, it’s not that interesting anymore; I found the first season more entertaining.

 

Lately that’s all the market seems to care about. Greece's negotiation woes drive the euro, which impacts the dollar, which has largely been driving moves in the equity markets.

 

Of course it’s not that simple, but Greece has held this market captive for a while now and it’s getting old.

 

Nervousness about Greece’s financing talks took their stock market lower today by almost 6%. The rest of Europe followed suit and US markets are lower on the heels of losses in Europe. Markets don’t like uncertainty, and the whipsaw headlines coming out of Greece are not creating any confidence among investors.

 

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