Archived IMT (2011.04.14)

Greece & Goldman Sachs concerns revisit the Market one year later to the week. Today's euro pullback was partly attributable to German Fin Min stating Greece would have to restructure its debt. It was April 11 of last year when....

It was April 11 of last year when the IMF & EU agreed on the EUR 550 bln rescue package for Greece, causing a 2-day rebound in EURUSD before subsequently falling over 10 cents. Another Dj vu is happening with Goldman Sachs, as the US Senate alleges GS to have misled US Congress and deceived investors during the financial crisis. Goldman agreed to pay $550 mln last year to settle civil fraud charges, but it now it may face criminal charges. GS stocks down 3.7%. Recall, it was on April 16 of last year when the Justice Dept justice announced it was a investigating Goldman Sachs. 1 week later, markets began a 18% selloff. Keep an eye on these cycles, & re-occurrences.

AL