I say 'if', because there is still some doubt being expressed that the referendum will actually go ahead
For one thing, its gonna cost around 110 million EUR according to Germany's FAZ (quoted in this Zero hedge piece). Not that Mr Tsipras cares, its not his money.
But, yeah, if it does go ahead ...
Expect early indications from around 6am Auckland time (July 6) .... that's around 1800GMT Sunday afternoon (July 5)
As anyone who joins me for the early Monday mornings from NZ knows, liquidity is super-thin. On Monday, if the referendum goes ahead, it will be much, much worse than it normally is. Spreads ... you'll be driving a big truck through them, easy.
Many market participants will opt to go home square over the weekend. Many will be instructed by their boss to go home square. Of course, there will be those that don't .... so it won't be everyone.
