If you're not talking about the head of the IMF today, then the only thing left really is the debt ceiling, which we officially reached today. While estimates are that it will take until August for the US to actually default on its debt obligations, the concern in the short term is how Wall Street sees the situation and how that will be reflected in the bond market and in mortgage interest rates.
On Monday even the most conservative investors were talking about sex and the charges filed against Dominique Strauss-Kahn. Will they ripple across the market?
Today, European finance ministers are meeting with a heavy and difficult schedule on periphery debt. While the Dominique Strauss-Kahn imbroglio/sex case makes it way through the US judicial system, the European debt situation should not be materially changed in a negative way by the development.