Greece Activates CACs

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Greece has activated Collective Action Clauses (CACs) after 85.8% of private creditors accepted the Greek bond swap offer. This has shifted focus to the International Swaps & Derivatives Association (ISDA) meeting due later today to decide whether a credit event has occurred. Across the Atlantic, non-farm payrolls data is in spotlight today.

Domestically, data just released, indicates that the monthly industrial production for January fell compared to December, while input and output producer price inflation indices for February rose more-than-expected. Meanwhile, the outcome of yesterday’s policy meetings of the BoE and the ECB were in line with market expectations.

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Greece Activates CACs

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