• Market thoughts: it was quite the session yesterday — market volatility soared, and the equity markets suffered its worst performance in three months

• Bonds have more fun: U.S. bond market has caught fire; in Canada, the yield curve steepened as the front end rallied to levels prevailing before the “hawkish” BoC policy report

• No doubt Greece continues to grab the headlines but as Bob Farrell stipulates, the news does not make the market; it’s the market that makes the news

• Monetary union an oxymoron

• The ECB is no Bundesbank; Euro is no D-Mark

• Financial follies: a year ago, it was all about saving the banks; and now it’s all about regulating them

• U.S. pending home sales jump ahead of the tax credit expiry

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