Market commentary

This morning, US bonds are lower and stock index futures nicely higher as Europe appears to be on the verge of a short-term resolution to the Greek crisis. Other economic data was mixed and had little impact on the markets, as the Univ. of Michigan/Reuters consumer sentiment index declined to 71.8 from 74.3 in May, while Leading Indicators index rose 0.8%. Recall the LEI fell 0.4% in April.

One should expect the see-saw trading and volatility in the markets until the debt crisis in Europe has a more permanent solution and if we continue to see mixed economic data in the U.S.
I will close by sharing part of a commentary from broker/dealer Vining Sparks, which commentary was referencing the European debt issues. “The often-discussed European Union bank stress tests will reportedly ignore the possibility of a Greek default. This raises a great question: If you’re standing in the woods and a tree falls on you, but your eyes are closed, would it really hurt you?”