I do't know about you
but to me this little bit of "risk on" overnight feels pretty punky.
News writers have to have something to attribute it to but other than the remarkable fact that Greece didn't default overnight, there seems to be nothing to attribute it to other than the fact that the Cardinals of Finance have gone into conclave and the world awaits a puff of smoke from the chimney (like the Vatican thing, I really suspect that they play Texas Hold-em and smoke cigars to kill time while they're pretending that grave deliberations took place).
Maybe the PTB have decided it is time for some shock and awe. Therefore entirely reasonable for everyone to even up and avoid getting their faces ripped off should that be the case.
PS: unfortunately the half life of effect from shock and awe continues to decay.
Re: I do't know about you
Good analagy usage. I agree with you I think the risk on is a good use of a scapegoat for the media.