- Greek banks and its stock market are closed today, with a payment due the IMF tomorrow likely to be missed. A referendum set for next Sunday is likely to determine the country's fate. A sizable "yes" vote would likely lead to the fall of the current government, allowing a new unity government to cut a deal with the troika. A "no" vote or even a close vote likely means Grexit.
- Europe's down more than 3% and U.S. index futures are lower by more than 1%.
- The U.S. 10-year yield is down 13 basis points to 2.34% and the German 10-year Bund yield is off 15 bps o 0.78%. The Italian 10-year yield is up 17 bps to 2.32% and the Spanish 10-year is up 16 bps to 2.27%.
- TLT +2%, TBT -4%.
- ETFs: TBT, TLT, TMV, TBF, EDV, TMF, EU, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, BUNL, TENZ, LBND, BUNT, GGOV, DLBL, TYBS, VUSTX