By Chris Becker
The USD paused its march higher overnight as possible rumors of a deal on Greek debt helped lift risk spirits across both sides of the Atlantic. The oil complex was not as happy though with both markers sold off and on the cusp of a breakdown while bonds were relatively steady, except peripheral European issues that were strongly bid, including Greek yields down by nearly 1% and the Aussie 10 year, now at 2.83%
Recapping Asia, where the Shanghai Composite is edging closer and closer to the 5000 point mark in its almost exact move of the 2005-2007 bubble where it reached just over 6000 points. This is not going to end well!