by Craig on 08/02/10 at 8:14 am
Morning Commentary
Global markets almost seem calm this morning. Parts of Europe are up while other parts are down. Despite efforts by European leaders to garner confidence for Greece’s deficit plan, banks in that country are down again today. Also, investor confidence in Europe declined for the first time in seven months as measured by the Sentix.
The US dollar is weaker and commodity prices are generally higher this morning. But commodity prices, based on the CRB Index, are still down about 12% from highs reached in January.
The Chart of the day is the recent price of credit default swaps for Greece’s sovereign debt. CDSs are a form of insurance bond investors can buy to protect in case of default.
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