Greece’s parliament is expected to vote on the austerity package later today (expected around 1200 GMT), with the implementation vote due tomorrow. Although there is still considerable uncertainty over the vote, markets expect it to pass and authorities are now trying to push for the private sector to finalise its participation plans. Overnight sentiment was hurt somewhat by talk of further China tightening but at this stage we believe most global central banks are in a more cautious mode. Continue reading →