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The dreary Greek drama remains a focus of the market pundits, but the lack of resolution didn't much faze European markets. The Euro Stoxx 50 closed the day with a 0.29%. The US market didn't fare as well. The benchmark S&P 500 hits it 0.31% gain early in the day and then sold off to its -0.33% low shortly after the lunch hour. An afternoon recovery attempt eased into the green late in the day, but selling near the close put the final tally at a fractional -0.03%, the third day in the current selloff. The index is down -0.40% for the week.
The 10-year yield closed today at 2.49%, up 23 bps from last Friday's close and 1 bp off its 2015 high on June 10th.
Here is a 15-minute chart of the past five sessions.
On a daily chart of the index we see that today's selling was accompanied by increased volume.
A Perspective on Drawdowns
Here's a snapshot of selloffs since the 2009 trough.
For a longer-term perspective, here is a charts base on daily closes since the all-time high prior to the Great Recession.
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