Markets Advance, VIX Drops on Greek, Eurogroup Deal
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The VIX, also known as the fear index, declined Friday as Greek and Eurogroup officials announced an agreement potentially extending Greece's bailout financing for four months. Greece's Prime Minister Alexis Tsipras must still submit a list of reform measures to Eurogroup officials on Monday, but the arrangement is seen as a positive first step.
Strength was seen across the board in the US, with the DJIA, Nasdaq, and the S&P 500 all posting gains. VIX dropped below 14.50, while the EUR/USD traded flat.
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