Succinct summation of week’s events: Positives: 1) Greek bailout and PSI deal looking more likely AGAIN, at least that’s what markets think as Greek stocks rally 3.4% on week, European credit CDS narrower, European banks bounce and US stocks continue their march 2) German ZEW investor confidence figure rises to best since April 3)Initial Jobless Claims fall to lowest since Mar ’08 at 348k, well below estimates of 365k 4) Philly and NY mfr’g surveys gain but components mixed as headline #’s are not sum of parts 5) Multi family housing starts continue to grow 6) NAHB home builder index up 4 pts, 3 pts better than ... (full story)