I’m tired of talking Greece

With the debt deal in Greece just about done, what’s left we all know is the budget steps Greece needs to take in order to secure Bailout II funds and Papademos has another meeting with his government at 9am est to hopefully finalize. The ECB seems willing to chip in with about 11b euros of debt reduction as they hand their bonds over to the EFSF marked at the price they paid. We’re all tired of discussing Greece at this point and hopefully by Monday we won’t have to for a while. German exports in Dec fell 4.3% m/o/m, more than expectations of a decline of 1%. The drop was led by a decline in exports to the Eurozone specifically. Imports also unexpectedly fell. In Asia, the Shanghai index bounced back by 2.4% ahead of important inflation data tonight. In the US, the MBA said the avg 30 yr mortgage rate fell to a new low of 4.05% and it led to a 9.4% rise in refi’s to a level matching the highest since Nov ’10. Low rates did little for purchase apps as they were flat. II: Bulls 52.1 v 48.9 Bears 28.7 v 29.8

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