Chatfeild-Roberts: No quick fixes to this Greek tragedy

NO QUICK FIX TO GREEK TRAGEDY

Jupiter CIO John Chatfeild-Roberts says Italian bond yields tell the real story on Europe but remains upbeat over corporate strength.

The surprise news of a referendum in Greece serves as a useful reminder that in this long-running Greek tragedy there can be no quick fixes and that when politicians are in charge of finding solutions, it is foolish to make assumptions about the outcome. Even before the announcement by the Greek president, it was clear the hard-fought deal announced by Europe's leaders last week was not what the markets were looking for. While equity markets rallied initially on news of the deal, Italian bond yields told the real story: the deal would not be enough to stave off the market's fear of co...