Feb 212012

Markets trading up, main news has been finalization of Greece bailout package. Euro zone finance ministers finally agreed on the 2nd Greece bailout package. How long this optimism lasts is anybody’s guess, especially given the ups and downs in this ongoing saga of over 2 years.   4PM: S&P ended the day almost flat at 1362, after having reached the intra-day high of 1368 around noon. No major news but Dow hit 13,000 level around noon too and markets seem to have pulled back, at least for now, from that level.

Greek deal doesn’t dispel gowth worries (MarketWatch)

Europe seals new Greek bailout but doubts remain (Reuters)

Greek Rescue Leaves Europe Default Risk Alive (Bloomberg)

The improbable Greece plan (Reuters Blog by Felix Salmon)

China eases reserve rules (MarketWatch)