Greek default fears impact markets despite EU deal

Fears of a Greek default continued to impact markets despite a deal between the European Union and the IMF being struck yesterday.

Asian markets fell overnight and were heading for their biggest weekly losing streak in seven years. The MSCI Asia Pacific Index dropped 0.5 percent to 129.26 in Tokyo, while European shares also fell on opening today and were headed for a seventh straight week of losses. The German Dax was down 0.63% to 7065.55 points in early trading. Contagion fears in the eurozone also prompted Spanish government bond yields to jump to 11-year highs as investors piled into safe havens such as US and German government bonds, said the FT. Commodities have also not been immune to investor fears...