Will Greeks accept austerity?

By scott miller

So much for the voice of the people — and the nerves of investors. Just a week after Greek voters loudly rejected an austerity plan at the urging of their prime minister, the very same man, Alex Tsipras, submitted a proposal.This proposal was almost identical to that of his creditors, seemingly motivated by doomsday scenarios for his nation. As a result, stock indexes in the U.S. and Europe soared on Friday. At the same time, the yield on the 10-year Treasury finished the week with its biggest two-day drop since July 2013, up 21 basis points, as relieved investors shifted …

Source:: Vail Daily Feed