Range bottom in equities is being established today as negative market chatter gets ahead of itself in Europe and banking fears from JPMorgan trading. Greece does not really matter because there really is nothing new here. When debt holders had to take 90% hit months back, it was over. EU will create some trash solutions but in the end it will accommodate survival but lead to slow growth. Same for Spain. Solutions which lead to sluggish economic gains.
JP Morgan is a non event as far a scale of loss. It will add to a extremely modest uptick in regulation.
Interest rate swings within the lower range will be great in percentage terms but modest in terms of significant impact on higher rates.
