US
indices are traded by around 1% down at the beginning of the session on Monday
after drop in European shares which came
as a result of the continuing problem with the negotiations between Greece and
its creditors.
Athens
and its creditors failed to reach a deal over the weekend after European
officials accused Greece for failure to meet commitments for reforms in return
for the final tranche of the necessary financial support. Last week, the
International Monetary Fund announced that there are "major
differences" between the two negotiating teams, who met in Brussels.
Beyond
developments in the negotiations for Greece's debt, the key event of the week
is the two-day meeting of the Federal Open Market Committee, which begins on
Tuesday and ends on Wednesday with a statement of Janet Yellen.
Yields
on US 10-year bond dropped to 2.31 %, while that of 2-year bonds - less than
0.70%.
Industrial
production in the US unexpectedly fell in May to 0.2% against the expectations
for growth of 0.3 %.
The
US dollar rose against most major world currencies, one euro traded above 1.12
dollars.
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