Monday, July 11, 2011

It Looks Like Greece Is Angry At All The Attention Italy Is Getting


Everyone has moved on to Italy -- it even got the NYT treatment today -- but Greece seems miffed at no longer being the center of attention.

We only say that because Greek yields are surging to totally brand new records: over 31% for 2-year debt, after having briefly dipped to near 25% right after the Hellenic Parliament passed the bailout.
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Of course, now that "selective default" is on the table as a Greek option, it makes sense that bondholders are eager to dump whatever they're still hanging onto.

And yes, this blowout is the story across Europe today.

Italian short-term yields are at fresh highs vs. German Bunds.

Portuguese yields up.

You get the drill...

See the original article >>

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