Merrill Lynch: Let's Put Those Huge Market Moves Into Perspective

While U.S. markets have been relatively stable in recent weeks, that hasn't quite been the case overseas. A note from Bank of American Merrill Lynch's chief investment strategist, Michael Hartnett, points out just how crazy some of these market moves have been.

For instance, the market value of the MSCI Greece Index fell below that of Bed Bath & Beyond just this week. Credit default swaps on bonds sold by Puerto Rico, in the midst of its own debt crisis, jumped to 3,868—nearing CDS levels on Venezuela and indicating investors were paying more to insure the debt.