A quick post, as I’m running to an all-day appointment, and want to get this out beforehand. Little has changed overnight, as Germany (and the EU) and Greece are expected to make an agreement within a couple of days. Historically, “safe haven” flights of money don’t last long, from a market perspective, so any gain on such news should be viewed as short term.

The Fed yesterday discussed “low rates of utilization” in their language — which is to say that they expect to stay the course of not raising their benchmark rate for quite some time yet — perhaps year’s end.

Rates are expected to stay in this range, barring any unexpected news breakout.

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