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Morning Brief


Opening calls are indicating a higher open this morning on the hopes that Greece will secure its second bailout.

In Asia, the Nikkei is trading higher whilst the Hang Seng is slightly in the red. China has cut reserve requirements for banks to fuel lending and buoy economic growth, boosting demand for riskier assets. The proportion of cash that Chinese lenders must set aside will drop half a percentage point from Feb. 24, the central bank said Feb. 18 on its website.

U.S. markets are closed Monday to mark Presidents Day. The Dow Jones Industrial Average closed at its highest level since 2008 Friday. For the year, the Dow is up almost 6%, and the S&P 500 is up more than 8%. The Nasdaq has made an impressive 13% run.

Events Today

Euro Area finance ministers meet in Brussels to deliberate the 130 billion euro bailout package for Greece.

Iran nuclear inspection by IAEA.

France sells Treasury Bills