Markets Are Booming After Greece Passes Key Vote

greece

Photo: Petros Giannakouris / AP

Last night, despite riots, fire, and tear gas out in the streets of Athens, the Greek parliament overwhelmingly passed its latest austerity bill, imposing deeper cuts on an economy that’s already been ravaged.Thanks to the vote’s passage, the Greek bailout process lives for now, and stocks are booming today.

European indices are up over 1% across the board.

The Athens market itself is actually up over 5%. Peripheral yields are dropping again, and for now, the action is positive.

US futures are also up as well.

The whole thing is almost a bit surprising at least in terms of strength and consistency, and the fact that at least at this early hour, there’s still no “sell the news” thing happening. Of course, the day is very early.

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