It’s once again rumor time on Wall Street.  (The Reformed Broker)

Individual investors still have some buying power left.  (Big Picture)

L: Doug, last time we spoke, you said quite a bit about debt, in the context of your expectation that the euro is on its way out. At the end of that conversation, you mentioned, of course, that the problem is not limited to Greece, nor the eurozone. America as a country has become a world-class debtor, and many Americans seem to think a maxed-out credit card is a reason to get a higher credit limit, not to economize. It’s like a global epidemic. Let’s talk about debt.

The US dollar is suffering some damage this morning, as Donald Kohn is set to retire as Federal Reserve Vice President, and word leaked out last night that easy money Kohn [Sep 12, 2009: Federal Reserve's Kohn: We Plan to Keep Throwing Kerosene on the Fire] is being replaced by easier money Janet Yellen.

A fascinating story via AP, which shows how difficult it is to simply read the headline data and make a judgement.  We see this happen every morning where assessments of data are made within seconds of the headline crossing, and billions of market capitalization adjusted accordingly. 

Governor Bollard from the RBNZ stated last night that they do not anticipate ‘hiking interest rates until mid-year’. With the SNB this morning, the market will be focusing on their policy on FX intervention in EUR/CHF. Economic indications and inflation forecasts ‘did not require’ the sort of intervention that surprised and upset the markets last year. There is no doubt it, Hillenbrand ‘does not want to see a strong CHF’.