Greece: Misses Another Bailout Deadline as Talks Set to Resume - Bloomberg

According to the latest wires, via Bloomberg, Euro-area finance ministers on Monday poured cold water on a quick disbursal of new aid payments, with Athens and its creditors agreeing to pick up discussions in the coming days.

Key Highlights:

•After months of disagreements, European creditors have fallen into line with International Monetary Fund demands over the structural reforms.

•The yield on Greece’s two-year bonds fell 58 basis points to 9.09 percent on Monday, the lowest level since Feb. 13.

•The Greek government has now agreed to preemptively legislate measures which are fiscally neutral. Athens won’t institute any additional austerity; a Greek official told reporters in Brussels.

•Once bailout auditors return to Athens, funds won’t be disbursed before the government completes a list of prior actions attached to the latest review of its economic support program.

Meanwhile, the EUR/USD pair keeps trading above water, hence, above the 50-DMA near 1.0600. As of writing, the shared currency waves around 1.0615.