A national holiday kept U.S. markets idle Monday, but the rest of the world started the week diving into risk assets like stocks and commodities on expectations that Greece's second bailout package would be approved by Eurozone leaders meeting in Brussels.

China's decision Saturday to make more money available for bank lending also boosted global equities and commodities.

But after European markets closed, details leaked from the Brussels negotiations indicated that private bondholders could face yet more losses as officials struggle to ensure that Greece's second bailout package actually produces the required results -- not merely delaying a default.

Stocks. Stock indexes in Japan and Singapore rose, while Hong Kong's key stock index fell modestly. European equities surged, with major indexes reaching their highest levels in seven months.

Bonds. German government bonds fell for a third straight session, and U.S. Treasuries were also lower. Yields on Spanish and Italian government bonds fell.

Commodities. Crude oil futures rose to an eight-month high after Iran threatened to cut oil exports to more European nations. Copper, which fell last week nearly four percent, gained, as did precious metals.

Currencies. The euro and the British pound sterling rose against the dollar, while the Japanese yen fell to its lowest level against the greenback since last summer.