Two Small Positives

There are two small positives today from a supply/demand perspective:

• Celgene is buying Abraxis for $2.9 billion in mostly cash.
• Today will be the last day the government is selling Citigroup stock until August. I estimate they have been selling stock at the pace of $1 billion a week. It certainly has not been helping markets and the fact that the pressure will finally lift today is a positive.