Today was a day on Wall Street that was well, strange. There was a nice little rally in the NASDAQ as it teetered near even most of the day and ended with a little move up. For the most part the other indexes were lower including the VIX, as there was little good news to really lift things. I think, at this point, the markets are at the end of cheap credit. Negative interest rates for TIPS anyone? That is not the kind of thing markets want to see. There feels like there is some serious confusion as to what money managers will put money into. Does anyone really want to buy an Italian Bond yielding 3.5 after the bond holders are about to take a haircut for Greece? Governments need to start feeling the heat of higher interes
