dow futures, page-15

"They have the ability, they just need the will. Chop Greece or fix it...just do it."

This from IG Markets

http://www.igmarkets.com.au/cfd/market-commentary.html

Unfortunately for investors, the start of a new quarter has not heralded a change in sentiment, with the market continuing to grapple with Greece’s debt predicament and concerns over a broadening global slowdown. How many times can the market sell off on these themes? Are these concerns not already baked into equity prices? How much further will global markets fall before ’value‘ becomes too compelling to ignore? These are some of the questions we are now asking ourselves.

At the moment, there are such diverging views and opinions on all of these questions. The lack of any consensus, in our view, can be attributed to the amazingly frustrating inability of policymakers on both sides of the Atlantic to take any decisive action. The eurozone structure prevents any one nation working towards the best interests of the region as a whole when it might be to the detriment of its own constituents. Over in the US however, the political process has ground to a drawn-out stalemate, as congressmen and senators govern for their own re-election prospects rather than for the good of the country. There’s certainly not much allegiance to good old Uncle Sam being shown by US politicians who have sworn to act in the best interests of the people they represent!

Until these issues are resolved, the equity markets are merely a sideshow.