Read between the lines in Wall Street's script

Commentary: Financial song and dance borrows from 'The Producers'

Long-term rates — the ones guaranteed to rise — fell again. The 10-year Treasury note made it briefly to 3.73 percent, with the 30-year-fixed mortgage rate holding steady at just above 5 percent for the week.

The action was largely due to Greek default, the possibility of a failed bailout (see "’Bazooka Backstop’ targets mortgage mess" — the dud in summer ’08) and contagion to the rest of the Europe’s "Club Med" nations (see "The debt is a real threat"). Today’s Euro-zone assistance is holding, for the moment.