Last night China hit the skids again, as that market dropped about 5%, and the situation there is obviously looking quite dicey. Meanwhile, yet again, hopes for a Greek deal saw Europe rally around 2.5% before backing off a bit (even as no miracle occurred), ultimately closing roughly 2% higher.
Greece-ing the Skids
How anyone could think a deal will be done before the referendum on Sunday, I don’t know (then again, I am no expert on Greece, though I have tried to read everything that seems pertinent lately). Based on everything I’ve seen, there’s no way anything could possibly be resolved before a vote, and my gut feeling is that the Greeks will vote no. However, it would seem that most everyone is certain this is going to work out just fine. At the moment, this is more of a mental exercise for me, as I’m not making any investments predicated on the outcome in Greece, though obviously more hostility with the EU — and whatever fallout that creates — won’t be good for anyone.
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