Futures are lower this morning on the heels of the big healthcare reform vote yesterday. I relish the thought of a new crew of IRS enforcers contacting me on a monthly basis to make sure I have fallen in line.
German Chancellor Merkel reportedly said last night again that the European Union should not help Greece. That issue is so far from settled and the Greek 10 year is at its widest level since early February.
China’s commerce minister warned the U.S. not to impose trade sanctions in retaliation for Beijing’s currency controls. Overseas, Hong Kong’s Hang Seng lost 2.1% and Japan’s Nikkei rose 0.8%. The FTSE in London was shedding 0.8% and the DAX in Frankfurt was down 0.7%.
Without any economic releases scheduled for Monday, the health care bill and what it means for both the deficit and the managed care sector will likely be the focus of the market’s attention.
Good luck this week.
Monday, March 22, 2010