More Global Support Offered To Greece. Housing Starts and Inflation Data on Schedule

As global support continues to grow for Greece, nerves are calming and investors are willing to buy again.

Overnight, Greece received a €14.5 billion tranche in emergency aid from the European Union, as French Finance Minister Christine Lagarde said the union needs to “put money where its mouth is.” The money will be used to pay off €8.5 billion payment in 10-year bonds maturing tomorrow. 

Meanwhile, Chinese President Hu Jintao said nations must continue working together to ensure a global economic recovery, adding that China would continue to help Greece with its fiscal problems.

Ninety minutes before the opening bell, Dow futures are up 58 points to 10,657 and S&P 500 futures are 8.25 points higher at 1,142.75. The 2 year Treasury note is unchanged at 0.818% and the benchmark 10 year Treasury note is less than 1 basis point higher in yield at 3.487% to start the session. The Fannie Mae 4.5 MBS coupon is -0-01 at 101-16.

Commodities are mixed: WTI crude oil is up $2.08 to $72.16 but Spot Gold is down $18.00 to $1,210.10.

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