European Banks Are Having A Monster Morning

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Photo: AP

Think that Greece is about to default or restructure?Obviously investors in Europe’s banks aren’t too worried, they’re having a monster day.

The STOXX 600 Europe Bank Price Index is up over 1.7%, hitting a level it hasn’t seen since August 3 of last year.

Notable individual names are doing better than that.

UniCredit is up 6%.

BNP Paribas is up 3.5%.

Deutsche Bank is up nearly 3%.

Again: If some kind of meaningful credit event is about to happen in Greece, with potential for spillover effects, nobody is real concerned.

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