Italian Bonds

Italian 10 Year

Well it's not as bad as 6 months ago, but not that much better.  Greece, Spain savable.  Italy?

Inflation key

So the Philly Fed number was way down, unemployment's staying up, and basically the economy looks weak again.  The Fed keeps saying it won't move until inflation isn't even close to an issue and with Oil prices down to 78 a barrel that might happen sooner then later.

Fed rally

I guess that's why he's the chairman.
Hey if things go bad don't worry we got this.  No we don't need to do anything now it's cool, but if it's uncool later we're still good cause I told you we got this.
And everyone bought it to the tune of 300+ Dow points.

10 Year Yield < 1.5

Not really sure what to say about this.

NFP Friday

So did that jobs number just kick off QE(n)?  Oil prices have slid far enough down to quell inflation fears and with the unemployment rate going up, now feels like everything's in place for some action.  Plus people are going to start begging for intervention if the market keeps going down.  It's a fun game of what's happening in the real economy and then what will central banks do.  You need to know both now.

Facebook

Here's the requisite Facebook IPO acknowledgement since no one in the world can not talk about it.

Velocity

The interesting thing to me is the fear a couple years ago was Greece's problems would spread to Ireland and Portugal and then Spain and then Italy and then that would take the whole thing apart.  Isn't that's what's happening right now?  It's just in slow motion compared to the original idea that everything would unravel in months.  The ECB's different extend it programs changed the timeline but not the problem.  Fear seems to be tied more to velocity then actually outcomes.  Not sure if this is people having the time to hope for the best or more everyone's had time to process and accept the outcome instead of the panic high speed movement caused panic.  Either way we're still headed in the same direction people just don't seem as scared.