For the commute home,
– S&P downgrades Greece to selective default — cue the pending follow-up by other rating agencies and a delicate period for funding Greek banks at the ECB…
– Gavyn Davies on the metamorphosis of Ben Bernanke from advocating a gluttonous binge on unconventional monetary policy to just buzzing lightly on it.
– By the way, now that dear oil is here, it’s crunch time at the Fed.
– Energy bills are still lower than they were last year.
– S*** sales traders say.
– Hawaii still the top state in well-being measures.
– An expensive consultant for the New York Times.
– A pill that erases painful memories forever.
– NY Fed explains how interest on excess reserves benefits the payments system.
– Chart of the day: GDP per barrel of oil consumed (from this Early Warning post):