Two must-read links summarizing Greece. Both short and direct.
ECB
What Italy's troubles mean for global markets, in simple terms.
In an effort to fight inflation, the European Central Bank hiked their benchmark rates for the 15-country Euro zone by .25% today as expected, but implied that this is not the beginning of a campaign: “On the basis of our current assessment, the monetary policy stance following today’s decision will contribute to achieving our objective.”
Fixed and ARM rates open this week approximately even over last week. We had a run up in rates in the two weeks leading up to last Wednesday’s FOMC announcement that they were holding the overnight bank-to-bank Fed Funds Rate at 2%, but increased credit crunch pressures have weighed on the market. As stocks have