Financial markets around the world will look to continue their positive momentum from last week on the back of new leadership being announced in Italy and Greece. The markets will not tolerate dissention any more in the weaker Southern European economies and will look for credible action plans going forward. The proposed referendum in Greece was enough to cause the bond market vigilantes to aggressively start pursuing Italy. In fact, we saw Italian ten year yields reach above six percent for the first time.
On top of all the European economic news we do have a good deal of companies reporting earnings this week as well as a slew of our own data coming out. If you are like me then you are tired of worrying about the constant economic fallout in the U.S. from our friends over in Europe. The time is now to act and restore faith in countries that have severe deficits in order to allow the global financial system some time to heal and move forward.
Remember, now is a perfect time to talk to a financial advisor or possibly look at replacing your existing one if you are not happy with the communication or guidance.
Eric Marvin
Financial Planner in Fort Myers, FL
JPT111411-1849
