Greek Bonds A Bad
David Callaway, USA Today
WASHINGTON D.C. — Forget tech stocks. Greek debt is the story of the week on Wall Street, proving once again that nobody can remember anything more than four years old.
The search for profit is difficult right now for investors. Interest rates in the U.S. and other major countries remain low following the global financial crisis of 2008 and early 2009. Stocks, especially in tech in the last year, have pushed new highs, at least until the last week. But the rush to buy Greek debt again is a clear sign of the absurdity of the bull market as it begins its sixth year.
Spring is for dreamers. Baseball season begins. In Chicago, Cubs fans are happy. In Silicon Valley, teenagers are fielding offers of billions of dollars for products they haven't built yet. Here in Washington, D.C., the cherry blossoms are blooming, Congress is getting along, kind of, and the International Monetary Fund is staging its spring meeting with a rosy prediction of global growth in the coming year.