Danny Salas

Archive for March 2nd, 2010

Chico, CA Interest Rates Market Report – Economic Influences – March 2, 2010

Greece's Assurance Of A Resolution Stopped The "Flight To Quality"

Greece’s Resolution

There’s no real economic data scheduled to appear, this morning.  So, the market is moving, primarily from news that their is a financial resolution to Greece’s problems. Basically, they are having to increase taxes, cut government workers’ wages, and other ideas, to help lower their huge deficit.  One suggestion, taken seriously, is requiring taxi drivers to issue receipts, so that they pay their fair share of taxes.  This has caused a nationwide strike and put a huge damper on tourism.  So, you can see how everyone understands that there are sacrifices that need to be taken to rescue and failing economy, it’s just that nobody wants to pay for them.

We've Bounced Below The 100-Day Moving Average

Locking Advice

Just as anticipated, yesterday, we hit a level that we just couldn’t do much with.  We’d reached the pinnacle of where we could go, without some sort of news that could catapult rates where we haven’t seen in quite some time.  And, actually, we got the news, from Greece, which helped take the “flight to quality” from US Treasuries, back into Stocks, causing rates to increase, slightly.

Related Must Reads

Greece’s Financial Problems

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