The Greek election has averted a messy Greek default and euro exit for now, but European problems remain intense with hopefully the June 28-29 EU leaders’ summit providing some lasting solutions.

• The US economy has also been slowing lately and faces a “fiscal cliff” from the start of next year. Odds are though that the US will ultimately do whatever it takes to keep its recovery going.
• Investors remain caught between near term uncertainty and risks, but good value in shares and the prospect of more policy stimulus. We still see shares higher by year end.

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