Why The Market Is Likely To Rally On The Greek Elections
By The Independent Investor:Wow, why own any asset class other than the 10 year treasury. While the S&P 500 and its tracking exchange traded fund, SPY (SPY), has rallied nearly 20% from the market lows of last summer, and stocks such as Apple (AAPL) are up nearly 30% in the last year, the recent sell-off has been brutal.(www.thestreet.com)Still, while the economic data continues to deteriorate, European and Chinese equities are trading at one year lows, the U.S. economy continues to expand at 2-2.5%, and the recent Spanish bailout suggests European policy makers are beginning to take more aggressive actions.This why I thought it was particularly interesting to see the recent story that there have been significant outflows from Greek Banks. Recent reports are of between $500-800 million in outflows from Greece's major banks, and millions of dollar in outflows from smaller banks as well. The rationale for these recent withdrawals;Complete Story »
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