Only one place to start...
Greece – Greek delay in submitting reform list due to disagreement with creditors. Hmm. At best all of this is just kicking the can down the road…with lots of deadlines coming up:
Still at least the Greeks can argue they have not been too slow in implementing reforms over the last few years (albeit from a low base):
Greece of course did see much higher debt levels over recent years...but they were not alone. Not many countries cutting debt (and yet look at bond yields!). Fascinating chart:
Am I surprised about this headline from the Japanese press? Not at all (link here). The yen is going much lower...
Government-BOJ relationship showing signs of strain
Why you should continue thinking (positively) about the agricultural theme
Some global stock markets are really concentrated:
Ukraine – CDS implying a 97% default probability. Not good. Still ongoing military actions too.
Nasdaq – does rise 9 days in a row despite the above. Last winning streak of this length was in September 2010.
Yellen – Senate Banking Committee today in the first installment of her semi-annual testimony before Congress on the US economy. Nice link: ‘what is the one question you would ask her?