Friday Evening Links

[WSJ] Eurozone Raises Specter of Default as Pressure Mounts in Greek Bailout Talks

[FT] Emerging markets suffer biggest weekly outflow in 7 years

[AP] California orders large water cuts for farmers

[Bloomberg] White House Confirms Second Possible Breach of Personnel Records

[Bloomberg] Junk-Bond Defaults Growing as Pressure From Commodities Persists

[Bloomberg] Investment-Grade Bonds and Junk Bonds Are Looking More and More Alike

[Bloomberg] You Can’t Keep the Panic Out of Stocks Forever, VIX Traders Say