SCOREBOARD: Greek optimism

Market sentiment was buoyant as investors awaited the outcome of Europe's debt meeting.

US markets were closed for the President’s Day Holiday, so needless to say nothing much happened. In general, a modest risk bid was applied for those markets that did trade and that seems to be based on growing optimism over Greece (reserve requirement cut from The People's Bank of China probably helped as well). They’re set to get the €130 billion apparently and while final negotiations are still underway, all parties have expressed confidence that a deal will soon be announced. Indeed, the French Finance Minister reckons that "all the elements are in place... both with the bankers, private sector creditors, and public sector creditors, the states and central banks".

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