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There’s all kinds of worrisome news today.Greece is inching closer to a default, and speculation that it will leave the Eurozone sometime this year is as hot as ever.
Portugal’s 10-year bond is going nuts, as the yield surges above 17%.
Personal spending growth came in at a goose-egg in December, missing expectations. The savings rate is jumping.
China, going against some expectations, did not slash its reserve requirement ratio.
What’s more, the rally has been a barnburner for sometime, and investors have every excuse to take profits.
France slashed growth estimates from 1% to 0.5%.
The Batlic Dry Index keeps dropping.
And yet, all the big indices are off less than 1%. The Dow is off 0.7%.
If stocks stay at this level, it will be somewhat remarkable.