- Greek PSI deal to be announced Wednesday after Eurogroup meeting
- Eurogroup to decided on Greek package as a whole, including PSI
- France, Belgium lift short-selling bans; banks fall
- ECB bough only EUR 49 mln in bonds in latest week; total steady at EUR 219 bln
- Merkel: Can’t and won’t be changes to Greek plan
- Obama releases $3.8 trln budget; includes tax hikes on “wealthy”
- Spanish banks downgraded by both S&P and Fitch
- Greek woes not close to being solved: Citigroup
- ECB’s Nowotny: More steps needed from Greece before funds released
- S&P 500 rises 0.7%,to 1351; DAX up 0.7%
- US 10-year note falls 1 bp in yield to 1.97%
- WTI rises $1.90 to $100.56; Gold up $1 to $1723
EUR/USD opened on its highs around 1.3260 in the US and drifted off for much of the session, slipping below 1.3200 late in the day before touching 1.3189 lows. Flows were light.
Downgrades of Spanish banks and dwindling expectations that Greece will be willing or able to meet the ambitious targets adopted in last night’s austerity vote helped fuel the slow grind lower in prices.
USD/JPY stayed range bound ahead of the conclusion of the BOJ meeting this evening. Another dose of asset purchases cannot be ruled out after last-nights big drop in GDP. 77.40/70 was the range