Make the Friday trade today
Here's what we know for sure: there isn't even a Eurogroup meeting scheduled until Saturday. It's highly unlikely there's a deal tomorrow, not to mention that the sides haven't visibly moved closer to since the start of the week.
Last Friday there were signs of progress into the weekend. I don't think that's coming tomorrow so the trade on Friday will be risk aversion and defending against disaster.
The clock is about to strike midnight.
I think we're setting up for selling in the yen crosses in the next 24 hours. Bill Gross doesn't think there's going to be a deal and no one wants to be holding risk assets when talks break down.
Update:
An EU official now tells BBG there will be no leaders' summit today or tomorrow and Dijsselbloem also told leaders there has been insufficient progress.