Sure has nothing to do with east Asia, because of the time zone factor, such as the blackout happening between 7 p.m. Sunday evening and 4:00 a.m. Monday morning local in Japan. However, going to a) the Greek time zone, and b) the election results, and speculation, that could make a lot of sense. Generally speaking, Greek elections are on a Sunday, from "sunrise to sunset" but rounded out. So it will be something like 7:00 a.m. local Athens to 8:00 p.m.. The East Coast times corresponding to these will be:
2:00 a.m. US East Coast time to 3 p.m. Eastern Time.
BINGO!
In fact, I would expect all hell to break lose sometime around that late Sunday afternoon US East Coast time, and certainly the following Monday in markets around the world...if the socialists really ramp it up and do well and want to tell the EU to shove it. But not sure how the eventual vote will go and seems like banks are trying to at least get ready for the other shoed to drop. Here, Reuters:
* Banks eye potential fallout from Greek elections * Banks have run scenarios, prepared for client queries * Greece's path in or out of euro may not be quickly clear * Credit Agricole has no plans for emergency meeting-source * Fitch sees Grexit downgrade risk for Spain, Italy banks (Adds comment from Fitch, French banks.) FRANKFURT, June 13 (Reuters) - German banks are preparing for a worst-case scenario should Greek voters choose a path that takes them out of the euro zone in elections on Sunday. "If it looks like that is the election result the telephones will glow red in Frankfurt's banking towers," said a manager at a large German bank, who asked not to be identified. Banks and other companies will quickly review their emergency plans, the manager said, anticipating questions like what happens if the markets collapse on Monday, what investment recommendations can be made to clients and what costs can be expected in payment systems if Greece switches back to the drachma.