Greek PSI Deal Window Closes
Just now, at 3pm ET, the window for private sector creditors to agree to the Greek debt-swap deal closed.
Speculation in the markets is that Greece was able to clear the 75% threshold, and may even have gotten past the 90% threshold. This is important, because without getting a participation rate above 75% the deal would have failed. If Greece is able to get more than 90% it may be able to avoid invoking the collective action clauses, and thereby triggering Credit Default Swap payments.
The final results will be released at 1am ET. Still, rumors and reported leaks may dominate trading idea for the final hour of the session and into the after-hours.
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