Again Greece Talks Crumble

Again talks between Greece and their creditors have ended with no progress whatsoever.  After talks collapsed last week they were restarted on Sunday only to end with the same result—zilch.  With almost 2 weeks to go to the deadline there will be nothing serious proposed by the Greeks until the last minute–and then a interim agreement of a worthless nature (at least this is our prediction).

Our portfolios are doing fine with the current SP500 hedge position and it looks like there is a fair chance that tomorrow (Monday) will be another rough day for stocks if current futures prices hold through the night.  Interest rates in the U.S. are moving lower tonight as there continues to be a move to safety and further doubts on the strength of the U.S. economy.

Don’t forget that the short duration instruments minimize volatility during these times of uncertainty.  We have a listing of exchange traded debt and term preferreds that mature in 10 years or less which is here.