Forget about the Spanish 10 year bond hitting record highs today at 7%. Forget about the weekly jobless claims numbers, which rose more then expected. Forget about the CPI which dropped the most in 3 1/2 years. The story today is Greece, and it’s impending exit from the Euro. The odds of that happening have increased over the past few months, and this weekends Greek election could go a long way in deciding it’s fate.
Just like we wrote about last night, markets are an amazing pricing mechanism. And right now, the Greek market is telling us the vote this weekend will be favorable.
We will have more again tonight, but definitely the story to watch today.
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