Greece showdown today in Brussels

•     Greece showdown today in Brussels

–    Eurozone finance ministers meet to discuss Greece; in theory, today is the deadline for reaching agreement, but things aren’t really over until the bills start coming due in July

–    Special meeting on Greece isn’t until the evening, so market today will be nervous, swayed by any headlines that appear with rumors and counter-rumors

•     Japan growth disappoints

–    Q4 GDP +2.2% qoq SAAR, pretty weak when coming out of recession

–    Adds to questions about what Kuroda will say after BoJ policy board meeting Weds

•     Today:

–    Eurozone:  Eurogroup meeting, as mentioned above; Eurozone trade balance for Dec

–    Switzerland:  SNB sight balances for week ended Feb. 13

–    US: Markets closed for President’s Day

•     This week:

–    Tuesday:  RBA meeting minutes; ZEW survey; UK CPI

–    Wednesday:  BoJ meeting, Kuroda speech; UK unemployment, BoE meeting minutes; FOMC minutes; start of Lunar New Year in Asia

–    Friday: PMI day:  Markit manufacturing & service sector PMIs from some European countries, US (manufacturing only)