Mish….cake for hedge funds holding Greek debt… Armstrong says there’s ‘No Incentive’ to agree to Greek swap

Some headlines first:

Nearly 1,700 Layoff Warnings Issued by City Schools (San Diego)
Hamtramck, Wayne Co. face rising struggles making payroll
With a Pension Shortfall, Companies Want to Kick in Even Less
California Pension May Lower Assumed Return for First Time Since Recession
Spanish farmers faced with ruinous tax hikes
Hospitals face $170m hit from sick carbon tax (Victoria)

 

…………………Athens’ Pitifully Hollow Warning to Bond Holdouts; Self-Serving, Misguided Hype by IIF on “Implications of a Disorderly Greek Default and [...]