As if global investors didn’t have enough concerns. Two recent events have given rise to more caution in already troubled regions—Greece and Russia. First, let’s talk about Greece. While Greece may not be a worldwide economic power and the United States has very little financial concerns thereglobal economies getting riskier Greece is still an important part of the Eurozone.

As you’re aware, Greece has had some rather severe difficulties as it relates to its economy for the past several years. In an effort to bolster the economy and cut back on government spending Greece’s government enacted a series of some rather serious austerity moves.

These multiple efforts to restructure debt and cut back on government payouts hasn’t provided the sort of effect originally intended and instead the populous has blamed the government for its current woes right along with the austerity programs. Greece held national elections and the left-leaning Syriza party looks to take control of the government. Vowing to end the various austerity programs aimed at bolstering the Greek economy, the Syriza party’s popularity took hold over the Greek population and it appears austerity measures are out of vogue and another new round of debt renegotiation is set to begin. The problem with that is no one holding Greek debt appears all that excited about renegotiating anything.

And a bit further to the north, S&P latest ratings for the Russian economy has placed the nation’s credit rating to that equating junk bonds, this according to a story on  Russia’s credit rating has now fallen to BB+ from BBB-. Investors don’t see much of a reason to place many funds into Russia’s economy and along with the falling price of oil, S&P proceeded to issue the new rating. That means the safe havens of the world, like the United States, should benefit. The key word is “should.” No doubt that U.S. Treasuries and mortgage bonds will benefit but Wall Street doesn’t appear to have very much momentum these past few days and still trading below 18000.