You See What a Little Leak Can Do? Read the Whole Story for the Punchline

The Greeks undoubtedly leaked the rumor they may leave the EU, sticking the Troika with a load of bad debt. Rock Paper, scissors.... Greece had the rock, the Troika the scissors.

Reuters announces a preliminary deal on Greek debt restructuring or whatever they are calling it to avoid a "credit event".

As of last night we had two distinct possibilities, follow through selling today which would have us down 1.5% at a minimum, or a possible 1-day oversold event as all 30 DOW stocks closed in the red "when there's blood in the streets...."

In any case, apparently the deal was wrapped up around midnight, I'm assuming local time.

This is pretty huge for Greece, but longer term, the Troika just set a precedent that is in some ways on par with the government's bailout of AIG, and in the process they created "super banks", which means they also increased the number of "too big to fail" institutions.

I'm sure the Irish and Portuguese are starting to think about their terms and what a floated rumor might do for them.

In any case, none of the Central banks or IMF seem to look any further then what the market is doing today, although a Greek intentional default would have screwed the Troika in a big way.  So the Euro has responded positively sending the dollar down and giving equities and commodities a little breathing room.

Well that was a nice story... Too bad the EU just refuted it around 15 mins. ago.

Other then the news items out, how do I know the exact time...

That's how

It looks like rumors started floating around 1:20 or so

Distribution before the article came out in FXE (Euro Trust).

So it's back to square 1, I'll look around at some of the correlating equities and see what the deal is here.