US markets climbed overnight to finish the session stronger ahead as Greece managed to avert an immediate default.
The S&P 500 closed 0.98% higher at 1,365, while the Dow finished 0.55% up at 12,908 as news of a debt swap deal filtered through. Asian markets were also stronger, with the Nikkei 225 ending the day 1.65% higher at 9,930 and the Hang Seng up 0.9% at 21,096. Greece has announced 85.8% of its private bondholders have decided to accept a “voluntary” 53.5% haircut on their debt. At the same time Athens has indicated it plans to implement the collective action clauses (CACs) that will force all non-accepting investors to exchange their debt, resulting in a full participation rate of 95....
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