Another day of choppy price moves as we bounce from Greek headline to Greek headline
We're all sick of it. It's certainly driving me bananas but the headlines are what move the markets. How do we sift through the mess to define what is the real trade
Out of the Troika, the ECB is just following what the EU and IMF say. The EU looks to be there on a deal, so the last part of the 3 piece jigsaw is the IMF
They are the one's playing hardball and they are the one's Greece has to satisfy
For me, sifting through the headlines is futile as we get rumours, counter rumours, confirmations and denials. The IMF is the only game in town now. If we get headlines from them saying they have agreed details with Greece then that is the time to try and jump into euro longs, if they disagree then that's probably going to be a good short
Until that happens we're going to remain in yo-yo land
As I type, Bloomberg report that the IMF have received the Greek proposals and that they will be going over them, so their comments after they've done that will be key
Lagarde - The only comments that matter
