Breaking: Greece

Tyler Durden's picture

Greece has re-entered a bear market. Its stock market, after seven months of exuberance has dropped 20% in the last month. Greek government bonds are also in trouble as the no-brainer trade is now at three-month lows (with its price also down 20% from just a week ago). It would seem that 60% youth unemploymet may actually mean something once again...



Chart: Bloomberg

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
ihedgemyhedges's picture

Drop the Euro.  Embrace the Gyro......

MillionDollarBonus_'s picture

Who cares? Greek bond holders have locked in a 7% return for the next 10 years. Value investors are planning to hold to maturity, so the price doesn't matter. Seriously, where else can you get yields like this? Do people still not see the advantage of owning long-term peripheral debt?

Debtonation's picture

You can invest in Bitcoin. Up about 1000% in the past year.

toys for tits's picture

Looks like Michelle Cabrusa-Cabrera is going to enjoy a nice long spring Mediterranean vacation.

ihedgemyhedges's picture

I'd enjoy a vacation in her mountainous regions and southern areas.  Would avoid the north.......

ElZorillo's picture



Of course Bitcon looks good. All ponzi schemes look good, so long as you're not the unfortunate one still holding when it comes tumbling down.



Al Huxley's picture

I hope you've loaded your portfolio with it MDB.  That'll be some payoff for you in 10 years when they mature and you get your principal back.

Nothing To See Here's picture

Oh yes, lucky MDB. And I can't wait to see of what kind of paper those 7% yields will be made of two years from now!

Ratscam's picture

so the customers of one of the worlds best vault company Waldis Tresore wear tin foil hats ordering vaults en masse, thereby backlogging the company,s production time from two to six weeks.

McMolotov's picture

MDB, we're all impressed that you continue to post comments despite your mental handicap.

GCT's picture

Yep MDB when the EU policy change happens you will lose 40 to 80% of that long term investment.

Urban Redneck's picture

How's that "locked in" 7% return doing for the what used to be the 2 largest banks in Cyprus?

Frastric's picture

MDB; that's until those haircuts come...

Vicious are these haircuts I tell you...

DrDinkus's picture

I see a bad moon risin...

akarc's picture

I see trouble on the way

TrumpXVI's picture

There's the bathroom on the right.

McMolotov's picture

"Stay to the right!" —Mama Fratelli, The Goonies

DrDinkus's picture

merkel and putin fornicatin in the hay..

eigenvalue's picture

I see silverbugs weeping and shitting in their pants.

eclectic syncretist's picture

Is that you Bernanke, you stupid motherfucker?  I told you to stop playing on the internet and get back to the fucking printing press where you belong, you worthless pile of maggot detritus.  No I don't give a damn about the rising cost of ink you dumbass dickhead, you're printing muppet money you lobotomized bootlicker.  Now we got bids in on AG, so get back to work and get us an unfairly low price so that we can accrue something of real value, you pathetic needle-dick jackass.

Al Huxley's picture

Yes, about the only thing that makes me more angry about having to pay less for PMs is when I go to fill up my car and see that the price of gas has dropped.  Although if I go to the grocery store and an item I want to buy is on sale, that pisses me off quite a bit as well.

Cursive's picture

Gravity still exists....and will reassert itself at the worst possible moment.

gjp's picture

Still doesn't exist in the US.  As usual, going up from the open, 'sophisticated traders' already loving such oversold and undervalued names as AMZN, LNKD and BIDU

Super Broccoli's picture

sounds like Feta's bank will need a bail in / out sooner than expected

WTF_247's picture

all bullish.  Dropping orders, slower economy, possible bank collapse, no employment, unable to issue debt ...

Imagine if this happened in the US - the SP500 would be at 2k.  It would be so wildly bullish that I do not think the market could stop itself.

machineh's picture

Bailout III, bItCHeZ!

It ain't fixed till it's fixed ...

Super Broccoli's picture

bailout III, nah, bail in I

asteroids's picture

Greece fell into the black hole a while ago, what you currently see is an illusion crafted by the ECB. By letting Cyprus go under, Greece will implode shortly. I suspect they might hang on through the Orthodox Easter May 5. After that, boom!

AnAnonymous's picture

Greece will go boom.

Signed: an American.

akak's picture

My feces will go "splat" onto the roadside.

Signed: An Anonymous chinese shitizenism troll

Edward Fiatski's picture

Das ist fantastisch. Ja.

Stonedog's picture

That's called a correlation of asset classes...

Coming soon to a nation near you.

Nothing To See Here's picture

But Greece is such a special case you know...  and so was Cyprus...  And did I mention Italy? What a special case right there.

Now, let me talk about the spcial cases that are Spain and Portugal...

adr's picture

Looks like another country that embraced the Krugman fallacy.

Who would have thought that the total destruction of the economy could be so good for a country's stock market.

What was it, a 110% rise in seven months? I guess rich Greeks are just like the rich everywhere else. They don't like to lose their money and will pay off anyone they need to in order to get their money back. Or was it not the Greeks but the same 1000 people who control all the world's markets who wanted their money back?

I bet the 60% of the youth are happy the stock market doubled in seven months. Are Greek newspapers and TV telling everyone that they missed out on a new bull market and this 20% dip is the buying opportunity of a lifetime? Or is that just an American phenomenon of emracing full retard?

espirit's picture

If you have a friend, and you love that friend ~ and that friend loves you ~ You better f*ck that friend before that friend f*cks you.

Coming to a bank near you.

SheepDog-One's picture

WHAT? Greece is bankrupt, and actually still IS bankrupt? And after those nice people on CNBC assured me 'All is well'....I'm all 'OMG, what??'

MrNude's picture


''I say no wealth is worth my life! Not all they claim
was stored in the depths of Troy, that city built on riches,
in the old days of peace before the sons of Achaea came-
not all the gold held fast in the Archer's rocky vaults,
in Phoebus Apollo's house on Pytho's sheer cliffs!
Cattle and fat sheep can all be had for the raiding,
tripods all for the trading, and tawny-headed stallions.
But a man's life breath cannot come back again-
no raiders in force, no trading brings it back,
once it slips through a man's clenched teeth.
Mother tells me,
the immortal goddess Thetis with her glistening feet,
that two fates bear me on to the day of death.
If I hold out here and I lay siege to Troy,
my journey home is gone, but my glory never dies.
If I voyage back to the fatherland I love,
my pride, my glory dies...
true, but the life that's left me will be long,
the stroke of death will not come on me quickly.”

Homer, The Iliad


Flounder's picture

Does the EU financial situation and USA debt look better through Google glasses?

Dr. Engali's picture

At some point in time a grown up has to tell the bankers to fuck off, if they don't then eventually bodies will be drug through the streets.

orangegeek's picture

The global push after Obama's re-election last November has run out of gas.


Even the morning drop and bounce on the SP500 and Dow is losing its "predictability.


MSM should have fun with this - after all the fucking euphoria they have been pushing.

toys for tits's picture

Isn't Greece II where John Travolta fucks Olivia Newton-John in the ass?

LFMayor's picture

recent unveilings would point to John being the catcher.

Gives a whole new meaning to "Up your nose with a rubber hose".

toys for tits's picture

That's bullshit.

Paparazzo used to make that false claim about Rock Hudson as well.

morning's picture

Diesel will go boom on the winning trifecta, Slovenia, Portugal and Greece. Very bullish that everyone in these countries can no longer afford a simple water bill. 

Rathmullan's picture

you can bet jonnie horzine and the russian oligarchs are gone

LFMayor's picture

so this is what happens when the Ouzo runs out.

Non Passaran's picture

"There's an old saying in Greece — I know it's in Cyprus, probably in Greece — that says, bail me out once, shame on — shame on you. Bail me out — you can't bail me out again."

iamtheeggman whooooooooooooo's picture

Seems "Breaking News" is quite apropos these days!