All the more reason we're heading to hell in a handbasket. YM could be up 3000, it still doesn't change the fact the country is bankrupt.
bad for C / GREAT for bond and preferred holders. PRU and MET should benefit. They got taken to the wood shed on fears of nationalization.
I believe the dollar is being viewed as the safe haven currency for now - off but I suppose it's all relative in currency. And any thought that some deal might actually work will bring investors out of the dollar and into more higher risk currencies. The move started on friday but there were several reports as to central bank's interventions in the market then. Anyway if they dollar gets weaker I think it would be a good sign for the equity markets as well as a negative for gold.