The financial markets obsess sometimes over the most minor issues. Take the recent decision to bail out Cyprus by the EU. In addition, they are placing a 10% tax on all current bank deposits when the banks open today. Of course, that is not good news for the people of Cyprus. Who wants that kind of news on a Monday morning?
Let's keep the facts somewhat in perspective. Rochester, New York has twice the GDP of the entire nation of Cyprus and god knows that Rochester isn't thriving. Hell, even Shreveport, Louisiana has more money. So the Cyprus economy is not a big powerful economic giant that the world is depending on their stability.
Really? Lets keep this in check and cover some major news like the Republicans refusing to budge on tax cuts for the rich and holding our economy hostage. That is a fact that the financial markets should follow on a daily basis.
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