Europe

Today is quad-witching opex Friday, and according to JPM, some $1.3 trillion in S&P future will expire. Traditionally quad days are associated with a rise in volatility and a surge in volumes although in light of recent vol trends and overnight markets, today may be the most boring quad-witching in recent history: global stocks have again rebounded from yesterday's tech-driven losses as European shares rose 0.6%, wiping out the week's losses.

Authohred by Darius Shahtahmasebi via TheAntiMedia.org,

According to a U.N. Commission of Inquiry tasked with investigating violations of international war crimes and crimes against humanity in Syria, the intensification of airstrikes by the U.S.-led coalition has led to a “staggering loss of civilian life,” the Guardian reports.

Authored by Jeffrey Snider via Alhambra Investments,

We suspecty this NSFW clip reflects the sounds coming from more than a few investors today...

Some more dismal data this morning - yeah seriously more of it - sent the US Macro Surprise Index to its weakest level in over two years...

Update: it appears there isn't really a deal, but merely a can kicking. As the WSJ adds, the Greek "agreement" merely unlocks a key disbursement of bailout fund but puts a decision on debt relief off until next year. Specifically, the agreement reached in Luxembourg among the finance ministers of the eurozone unlocks €8.5 billion for Greece and puts off a final decision on debt relief until August of next year.