Global investors are hedged against a potential exit of Greece from the euro zone ahead of Sunday’s referendum, but they’re not betting on a huge fallout in financial markets even if there is a negative outcome.

Currency, bond, and equity investors have turned defensive, trimming exposure in the euro zone. They’re generally of the mindset, though, that a last-minute deal will be struck and it will be an opportunity to snap up euro zone assets again.

Greeks are set to vote on Sunday on whether to accept austerity terms in order to continue receiving international aid. Most U.S. investors expect them to approve the terms, though polling in Greece is unclear…

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