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Deutsche Bank

The US has a day off, but that won't stop the rest of the world from staging a nice rally.

Ahead of a meeting to approve (perhaps) the next big bailout for Greece, markets are booming.

The Italian market is up 1%. Athens is up 2%. France is up 0.6%, as is Germany.

Peripheral yields are dropping modestly.

Other than the imminent Greece-related meeting, the big news of the weekend as the reserve requirement ratio cut in China, though interestingly the Shanghai Composite barely gained today.