Archive - Apr 6, 2010

Update: 392 now

As we expected yesterday, the Greek rebellion over having the IMF on boad of the bailout package is about to give the GGB curve some prolapse issues: GGBs are tumbling, and no - not from CDS buying - this is all cash sellers baby. Oh, and good luck Greece with selling your bonds to US investors - they may be dumb, but they are not that dumb (unless of course you make your Bond covenant lite, add a 6 month Call, and use at least half the proceeds for dividends to Greek dictatorshipholders). Also, bankingnews.gr says the spread is about to hit 400 bps imminently. Prepare to have a deja vu freak out over Greece all over again - maybe 3rd time is the charm.

• Asian markets traded mostly higher with Australian market reaching an 18-month high.
• Australia raised its cash rate target a quarter percentage point to 4.25%.
• Bank of Japan may keep policy unchanged as Tankan shows economy improving.
• China says firmer yuan not key to U.S. trade imbalance.
• Euro declines on speculation Greece will struggle to raise further funds.
• Fed finds record-low OECD inflation.
• Interest rates climb; 10-year Treasury yield touches 4 percent for 1st time since June.

RANsquawk 6th April Morning Briefing - Stocks, Bonds, FX etc.

RANsquawk 6th April Morning Briefing - Stocks, Bonds, FX etc.