November 20, 2017

Seattle Mortgage Rates Today 5/22/12

Seattle Mortgage Rates

Seattle Mortgage Rates

Seattle Mortgage Rates Today 5/22/12: “Whatcha talkin’ ‘bout, Alexis?!”  Uncertainty continues to prevail in Greece as the country will have another attempt at electing a new government come June 17th.  Alexis Tsipras, the leader of Syriza—the anti-bailout constituency—is on the rise. This radical left-party believes Greece can reject the terms from the EU government regarding the bailout money.  Mr. Tsipras states that the European Central Bank will continue to fund Greece in order to mitigate its default from the Euro.  (Yes, he really does believe that.)  Not surprisingly, Greek citizens have withdrawn 5Billion Euros since May 6th.  The most likely way to stop the “carnage” is for the European Central Bank to step in and guarantee all bank deposits.  Ouch.

“Well then, why are bonds being tested at their all-time highs?”  Positive news coming from Europe that Greece remains in the Euro is negatively affecting bonds.  Obviously, sentiment changes as knee-jerk reactions to any news play a role in the volatility of the market.  However, the depth and complexity of the problem has yet to be uncovered; we really do not have a clear understanding of the crisis.  One way for the EU to gain some ground would be to print a lot of money; and by “a lot,” that means trillions of Euros.  Should that be the play for the day, bonds will be positively affected.

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