A Greek default is officially on the table as IMF walks out of negotiations.

Yields in periphery are rising; German 10 year bund is at 0.88%, Spain 10 year bono is at 2.21%, and Portugal 10 year note is at 2.96%.  Greek 10 year note is now at 11.29%.

the momo crowd continues to aggressively buy commodities including gold, silver, copper and oil.