Seeking Alpha
All posts from Seeking Alpha
Seeking Alpha in Seeking Alpha - Read, Decide, Invest.,

Market Bouncing Higher With Chipotle Mexican Grill Earnings After The Bell

Tread lightly is my motto with such volatility in the markets. After a sea of red littered the Wall Street landscape in January, February is reversing course and off to a great start. The final trading hour yesterday proved to move the Dow Jones Industrial Average (DJIA) over 150 points as hopes a Greece debt situation would work out more positively than originally suspected and as the new Greek government formed under the leadership of Alexis Tsipras. While the reformist and anti-austerity party candidate ran for Prime Minister of Greece promised to renegotiate Greece's bailout terms, he seems to be talking this angle down in recent days post his election. Additionally, Greece's new finance minister Varoufakis stated he is not looking to write off Greece's debt but prefers a 'menu' of debt swaps, easing the tension anticipated last week by many in the debt structure aligned with Greece's future. According to Reuters, Varoufakis has proposed a 'debt swap' where by the European rescue loans issued to Greece would be replaced by bonds indexed to nominal growth for the region whilst ECB-owned Greek bonds would be swapped into perpetual bonds. The plan would therefore leave Greek debt at the IMF and private sector intact and in effect the restructuring would remove the risk of any haircuts to the current debt, load that eurozone officials have verbally pushed back…