All My Children and One Life to Live are toast. Oprah is heading to the coast. The New Daytime schedule is reality based. There will still be plenty of sex, greed, crime, philandering, scandal and shouting to fill the void. Market based programming is gunning for those 7 - 9 million viewers left gaping into the abyss. Prepare yourself for more over analysis and hype.
Today Uncle Sam returns to the market with more paper after heavy corporate issuance in the days after the refunding. The Eu-IMFs Lipsky says the EU debt situation is "fully ring fenced." I'm not sure what that means but a Greek national asset fire sale as other countries watch will need more than a fence to contain the anger.
A concession before news and data come back to the tape would be healthy for the rates complex given the 2 week advance. The FX market is sitting tight for now, for once. As Doug Kass pointed out this morning, a buyer of 50,000 Gold calls for Aug - Dec in the 1600-1800 strikes has been observed. Stay tuned for more drama. The New Reality Based Daytime is here to stay.