European and US Equity markets would have already had this priced in weeks ago. The $11B at risk held by US banks is a few bps of holdings. Non-event for the US markets tomorrow. Maybe a little rally in Treasuries.
while i believe it blows over quickly i don’t believe its priced in yet. I stated in an earlier post i do think this is bullish longer term but now you have to realize this will be headlines for some time yet as Greece has delusions this will help them. They don’t want to leave the EU either. So a few things to iron out.