Stocks were mixed in Asian trade. The Hang Seng was among the weakest with a decline of 0.75% and the Nikkei lost a third of a percent, but Shanghai and Australia both managed a gain of 0.2%. European indexes are generally weak this morning, with the Dax and Footsie both currently off by about one percent. US stock futures are lower by about a half to three quarters of a percent.*There have been more reports that Greece will default, followed by official denials that such a thing is being planned or would be warranted. The market’s bet is for the former, with Greek two year yields pushing 19% and their 10 Year at about 14%, both up sharply on the day.
*The April reading of the NAHB Housing Market Index is due out at 9:00am CDT, it is expected to be steady at 17.
*The Fed is scheduled to buy Treasuries today that are due to mature between 8/15/28 and 2/15/41; the results of the operation will be announced just after 10:00am CDT.
*There are a few Fed speakers on the calendar today. Dallas boss Fisher and Atlanta’s Lockhart are set to discuss globalization and monetary policy at 9:00am CDT at a conference in Atlanta, at which Fisher will also talk about the economic outlook at 11:30am CDT. St. Louis Fed boss Bullard will talk on banking rules at 11:00am CDT in Kentucky.
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