(SOURCE: THOMSON REUTERS)

That said, the U.S. is hardly in the clear yet: while the blood-letting has been stopped for the moment, few are confident that the latest Greece deal will be a lasting solution to the euro debt crisis, and a real meltdown with global aftershocks could still be on the horizon. And even a more gradual decline in Europe could put a damper on the U.S. recovery.

(h/t Pragmatic Capitalism)