(Premature) Optimism on Greek Banking System Sent Financial Markets Higher

Financial markets were in a 'risk on' mode yesterday as driven by the merger of 2 Greek banks and stronger-than-expected US data. Led by the +14% jump in Greek stocks, stocks rallied with DAX gaining +2.39% and CAC 40 up +2.16%. Wall Street also advanced further with DJIA and S&P 500 surging +2.26% and +2.83% respectively. In the commodity sector, oil firmed as sentiment strengthened.

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(Premature) Optimism on Greek Banking System Sent Financial Markets Higher