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It's no secret that Greece is in serious financial trouble, but apparently it's worse than anyone thought. The ailing Mediterranean nation said today that its budget deficit in 2009 was 13.6% of its GDP, topping the previous estimate of 12.9% and nearly double the 7.7% it was in 2008. Analysts now believe that even if Greece does get a bailout, the country will have trouble paying it back. Greece's woes have troubled the euro and its ETF, CurrencyShares Euro Trust (NYSEArca: FXE ) , which is down 0.9% this morning. The ETF is down 5.1% for the last three months. [ Bears and Bulls: The Dollar's Next Move. ]
It's going to be hard to say goodbye to government homebuying incentives with results like these: existing home sales spiked 6.8% in March. Analysts believe that the selling season this spring may very well be the best seen in years. SPDR S&P Homebuilders (NYSEArca: XHB ) is up 0.5% today and up 10% in the last two weeks. [ Can the Real Estate ETF Turnaround Stick? ]
Food prices are the most expensive they've been in 26 years. The producer price index rose 0.7% last month, besting expectations of a 0.4% rise. Food and gas prices are being fingered as the primary culprits, rising 2.4% and 2.1%, respectively. But good news: there was little sign of inflation in the report, so you can rest easy for now. PowerShares DB Agriculture (NYSEArca: DBA ) is down 0.4% today; United States Gasoline (NYSEArca: UGA ) is down 1.5% this morning. [ Oil ETF Plays With Extra 'Oomph.' ]
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
