While the world patiently awaits, not even sure why because it is now absolutely guaranteed that it will be a huge disappointment, the G7 headlines which now appears to be merely an update session, and not one where any decisions will be taken, here is a sampling of this morning's schizophrenia out of Europe:
- FINNISH FOREIGN MINISTER URGES ORDERLY GREEK DEFAULT: ZEIT
- FINNISH FOREIGN MINISTER SAYS GREECE NEEDS 2ND DEBT DEAL: ZEIT
Yet...
- FINLAND'S TUOMIOJA SAYS NOBODY WANTS TO OUST GREECE FROM EURO
But... he just said... Sigh. And the US trading day has not even started.
Hint: when unsure what is going on check: if XO < 1000 bps, then nothing. If XO > 1000 bps, then something will happen. Repeat until results.