greek sovereign debt

Bonds, notes, and mortgage backs are flat with volume running at its lowest level in 3 weeks. The tug of war that has us trapped pits stocks that just won’t fade (Dow up 45 points) on one side and Greek sovereign debt issues that just won’t go away on the other. Matter of fact, Fitch just downgraded their debt of BBB-, right where subprime paper should have been in 2006 when the rating agencies had it at triple A.