The Quant Fund robot traders are lubing up the algorithmic formulas as it should prove to be an exciting overnight trading session of all index futures! As soon as the formulas are tweaked, the Quant Fund Robot Traders are throwing a Greek Toga Party complete with complimentary olive oil! The headlines prove that ouzo has been flowing for hours.
Welcome to Delta Tau Chis Toga Party Night!
Headlines:
April 12 (Bloomberg) -- European governments offered debt- plagued Greece a rescue package worth as much as 45 billion euros ($61 billion) at below-market interest rates in a bid to stem its fiscal crisis and restore confidence in the euro.
BusinessWeek
Treasuries Fall as Greece Aid Package Curbs Demand for Safety
New York Times
Europe Unifies to Assist Greece With Line of Aid
BRUSSELS — European leaders provided a long-awaited financial rescue line to Greece on Sunday, offering the country up to $40 billion in aid to meet its giant debt obligations.
Wall Street Journal
Asian Shares Rise, Boosted By Optimism On Greece
"Everyone knew that Greece would be sorted out one way or another," said David Halliday, Macquarie Equities associate director in Sydney. "The run we had from early March was partly due to those sovereign risk fears abating I think it's more the fact that we continue to see orderly and manageable rises internationally.... The rally this time is far more logical and fundamentally based."
MarketWatch
Euro Surges Vs Dollar, Yen As EU Agrees On Greece Help
The euro surged against the dollar and yen in early Asia Monday as a Sunday agreement by euro-zone finance ministers about a bail-out package for Greece surprised and propelled investors to buy the single unit.
Under the agreement, euro-zone nations will provide up to EUR30 billion for the country in the first year of any support programs. Greece would pay an interest rate of around 5% for a three-year loan program, well below the interest rate of more than 7% on Greek sovereign debt last week.
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