What a morning! We have Greece with a 436 million euro bond coming due next Tuesday, Spanish authorities want higher loan loss provisions against bad debts (more dilution for banks), and JPMorgan...and we move into positive territory on a 120 point swing in the Dow.
The market can take Greece, France, Spain and JPMorgan and still rally on the day. Wow.
And please don't tell me we just moved the Dow a hundred points in an hour on better than expected April PPI, which seems to be due to lower energy prices. Really? Is there massive worry about inflation at the moment? I don't think so.