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Monday June 29, 2015

// June 29th, 2015 // Comments Off on Monday June 29, 2015 // Daily News

Grexit is tragedy for Greece, but ‘Apocalypse Not’: Strategist

CNBC.com

Markets are sending a signal that investors believe the global economy is positioned to weather Greece’s potential exit from the euro zone, Jason Trennert, chief investment strategist at Strategas Research, said Monday.
“I would broadly put this in the ‘Apocalypse Not’ category. It’s a tragedy for the Greek people. You have obviously 26 percent unemployment, but I don’t think the [European Central Bank] would have made this decision—and it doesn’t mean they’re right—but I don’t think they would have made this decision if they thought that the ramifications would be broader conflagration in Europe itself,” he told CNBC’s “Squawk Box.”
European markets sank Monday as Greece imposed capital controls on the country’s banks and after Prime Minister Alexis Tsipras called for a referendum on proposals put forward by the nation’s creditors. The country is now expected to default on a 1.5 billion euro ($1.7 billion) payment to the International Monetary Fund due Tuesday.
Greeks will vote on July 5 on a package of reforms that would unlock additional bailout funds to the country. A “yes” vote would signal Greeks’ will to go along with pension reforms and other austerity measures, while a “no” vote is seen as paving the way for a Greek exit from the euro zone.
The developments also were reflected in bond markets, where yields on Greek debt spiked. Meanwhile, yields on sovereign debt, such as German bunds, fell as investors put money in these safe havens.
The fact that the debt of other peripheral, heavily indebted European economies did not soar suggests the market does not believe contagion will take hold, Trennert said. The sentiment is also underscored by European bank credit default spreads, he added.
“In 2011, 2012, those blew out precisely when Greek Treasury yields blew out,” he said. “This time around, for the last couple of months, it hasn’t been happening, so I think that there’s a feeling that they’ve walled this off.
“I really don’t think it’s enough in terms of the global economy to overwhelm the good news that’s happening in the United States,” he added.
The only benefit of a Greek exit is that the situation in the country would potentially deteriorate so badly it might sow the seeds of “actual structural reforms,” Trennert said. “The problem now is that you’re just putting Band-Aids on gaping flesh wounds.”

Today’s Inspiration

Are You Distracted or Determined?

by Joyce Meyer – posted June 29, 2015

“Few things are needed—or indeed only one. Mary has chosen what is better, and it will not be taken away from her.”
Luke10:42 NIV

In order to enjoy the present moment and the gifts it contains, we need to have balanced attitudes toward work. Luke 10:38–42 tells the story of Jesus’ visit to the home of two sisters, Mary and Martha.

Martha was overly occupied and too busy (see Luke 10:40). But Mary sat down at Jesus’ feet and listened to what He had to say. Martha was distracted with much serving; Mary was thankful Jesus was there and was determined not to miss the beauty of the present moment. And Jesus said that Mary made a better choice than Martha did.

Jesus did not tell Martha not to work; He told her not to be frustrated and have a bad attitude while she worked. Jesus wants us to work hard, but He also wants us to be wise enough to realize when we should stop all activity and not miss the miracle of the moment.

Prayer of Thanks Thank You, Father, for the way You teach me to live my life in balance. Help me to do the work You have given me to do without letting it become a distraction to my relationship with You. Thank You that I can enjoy moments at Your feet each day.

Tuesday June 23, 2015

// June 23rd, 2015 // Comments Off on Tuesday June 23, 2015 // Daily News

Tom Lee: Ignore Greece—THIS is what really matters

CNBC.com
The Greek debt drama is a “sideshow” for U.S. investors, who should be encouraged by signs of a stronger American economy, longtime stock market bull Thomas Lee said Tuesday.
“Greece isn’t the systemic risk that it was three years ago,” he told CNBC’s “Squawk Box.”
“Focus on U.S. fundamentals, which have been really good.”
Wall Street started the week with a rally, which marked the fourth gain in five sessions, and left the Nasdaq composite and small-cap Russell 2000 index at new highs. Based on Monday’s close, the S&P 500 was just 0.6 percent from its record high, while the Dow Jones industrial average was 1.3 percent away.
“I know people are fearful about rising rates and Fed tightening and what it means. But at the end of the day, we’re actually seeing reflation—the good kind of rising prices in the U.S. I think it’s bullish for capital spending and bullish for housing,” Lee said.
Those trends are going to lead to an upside earnings surprise later this year, he predicted. “I think this is going to look more like the early 1950s … [when] Fed tightening was really bullish for equities.”
Another factor that should boost U.S. stocks, according to Lee, is a catch-up rally. He said the market here is due, after under-performing stocks in European and Japan.
He advised playing old tech, financials and housing-related stocks.
Read MoreHousing is on the ‘verge of a breakout’: Technician
Lee launched his own boutique equity research firm, Fundstrat Global Advisors, after leaving JPMorgan as chief equity strategist last year.

Today’s Inspiration

Don’t Be Afraid to Stop

by Joyce Meyer – posted June 23, 2015

The thoughts and purposes of the [consistently] righteous are honest and reliable, but the counsels and designs of the wicked are treacherous.
—Proverbs 12:5

Don’t be ashamed to back off if you get out in the middle of something and find that God is not in it. Just be secure enough to simply say, “I thought this was God, but it’s not, so I am not going to do it anymore.”

You can apologize to others if you caused them any trouble or confusion. But there is no shame in quickly admitting that you were wrong. It is more important not to perpetuate a mistake than it is to keep people from thinking you were wrong. Don’t be afraid to say, “I didn’t hear from God.” Honesty will keep your day going right, all day long.