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Greek 10 Year Spread To Bunds Surges To Highest Since January 28, Hits 385, +35 Bps
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.
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Bye, Bye. Let's move on to bigger fish now like Spain and Italy. Oh wait, I forgot about the impending UK bankruptcy after the special election on May 6.
Oh my! Is this good news for Portugal?
Where's Zorba when we need him?
You have to admit, this is one of the most hilarious potential storylines in the history of "finance." Some good comedy director could really put out an Oscar winner here...
True, but it stops being funny when the problem reaches UK, then US shores
Sir, I'm not sure if you've heard or not but.. The US recession is over! WE WON!
Good, now the Fed can sell more debt w/o having to crash the stock market to do it.
And yet Goldbugs are getting Corncobbed today. I thought all bad news was bullish for gold? LOL!!!
Wrong again, silly boy. Gold in USD is down fractionally (less than your beloved stock market BTW), largely due to profit taking after yesterday's gain. Gold in EUR and GBP is doing exactly what it should do and is rising in face of currency uncertainty.
I love the smell of desperation in the morning. You know, one time we had a market rallying, for 18 months. When it was all over, I looked up. We didn't find one of 'em, not one stinkin' short person. The smell, you know that desperation smell, the whole market. Smelled like... victory. Someday this rally's gonna end...
Do Goldbugs really think an equity market sell-off is bullish for gold? Damn, Goldbugs are stupid.
You make Master Bates look smart.
Well, there is one positive thing about the imminent Greek bankruptcy; the Macedonians will declare a national holiday and the price of pastries across the Europe will be slashed 80% minimum.
But all kidding aside; this could very well spell the end of the bureaucratic monstrosity known as the EU.
how does the greek government know which islands they own.
they don't have a central land register.
http://gogreece.about.com/b/2008/08/26/got-land-in-greece-registration-e...
"...selling your bonds to US investors - ...they may be dumb, but they are not that dumb... "
what do you expect when you get the daily dosage of American Idol and cheering on millionaires athletes hitting a rubber?
Don't forget the Brazil carry trade, Banco Santander/RBS, and the rest of the Inter-Alpha group are as broke as Gary Coleman. It's not a surprise, and only an idiot would say 'whatcha talking about willis'.
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