Eurosis Is Back As "New" Greek Bonds Break 20%, Slide 14% In 2 Days

Tyler Durden's picture

Well that didn't take long. New Greek bonds (GGB2) have dropped dramatically in the last 2 days. The 2023 bond has fallen from over EUR29.5 on Wednesday to under EUR25.5 this morning, prices have dropped an incredible 14% and down a painful 17.5% from its opening break highs of just 2 weeks ago. Yields have broken back above 20% for the first time for this new 10Y as it appears reality is sinking in that Greek Bailout III will come sooner rather than later. Eurosis is back.

Price has tumbled significantly...


and implicitly yield has exploded - now over 20%...


Charts: Bloomberg

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French Frog's picture

Who would have thought.....

Theta_Burn's picture

All your honesty is belong to us....:)

Al Capowned's picture

Half life of can kicking is getting pretty bearish!

GetZeeGold's picture



Why is the hot potato starting to glow?


LongSoupLine's picture

Long - Nigel Farage rants.

Al Capowned's picture

At least thats one thing to look forward too!

jus_lite_reading's picture

Perhaps this is because investors realize that Greece will NEVER be able to reach any targets going forward and as the economy literally implodes, its game over for Greece... that, or because there is so much recovery going on... LMAO

LongSoupLine's picture

yep, and look for the "cut-n-paste" on Spain, Portugal, Italy, etc.

mushi's picture

It's game over for pretty much everyone. So go gold, b......

LawsofPhysics's picture

Sort of looks like many recent IPO's, nice.

youngman's picture

You can bet your life IPO´s will go ballistic...the banks need more of them to make they will pump them up so the sheeple start jumping in again....they want a Dot Com bubble again...

SheepDog-One's picture

YEA what we need is another stock mania bubble! Too bad it wont work this time, people are only concerned with figuring out how to make basic ends meet and just put meager food on the table. 

Global Hunter's picture

If you happen to own it I recommend you hit any and every bid you can...but I'm not a smart expert or anything.  Too funny, I mean is anybody surprised?

dvsteenk's picture

nice overview of bonds:

regularly updated (from Bloomberg source) 

Perhaps they had to focus on Portugal first, in the background ECB managed to massage portugese 2YR back down to towards 10% level, probably at the expense of Spain and Italy also

Schmuck Raker's picture

Just a mild criticism of that site...

It would be much more useful if one knew, at a glance, how recently it had been updated.

WoodMizer's picture

But, Atlantic Monthly said Bernanke fixed europe with his innovative currency swaps.

Catullus's picture

About as innovative as printing more money can get.

Al Capowned's picture

Bernanke is a Hero for the paper and Ink industries

Catullus's picture

They really need to kick the can a little harder next time.

Don Diego's picture

Don't worry, Sarkozy said a couple of weeks ago that the Greek crisis is finally over.

CuttingEdge's picture

I prefer Eutopia to Eurosis.


Obviously not to be confused with, but on a par with cloud cuckoo land - and similar in as much as its about as far from reality as is it is possible to get. 

Lednbrass's picture

Nobody could have anticipated this, truly shocking.

Sudden Debt's picture

Free money, untill there's no more.


youngman's picture

So all those people...investors..whatever..just lost a bunch of money..right......????

Winston Churchill's picture

And so it begins.

This is how the finacial world ends,not with a bang,but a whimper.

HD's picture

Don't fear the reaper. All our time has come...

Peter K's picture

Hey, if the ECB resumes SMP purchases now, they are guarenteed to make 300% on their money. Anyone know if they run a hedge fund? :)

Flounder's picture

10yr BTP hit yld of 5.2 today and now at 5.138.  So they've got that going for them.  Which is nice.


Watson's picture

Italy is a much better bet than Spain.

Stylish clothing and supercars, (pre-Euro) cheapish fair quality manufactured goods.
Entertaining politicians!

Spain, on the other hand, has a nice climate for tourism, and not much else apart from a banking system full of dud real estate loans.


SheepDog-One's picture

LOL! WHEN are people just going to go HANG these fukin IDIOTS??

Quinvarius's picture

They are playing "kick the magnet" with steel toed boots.  Watching central bankers try to save their debt based fiatsco is better than a three stooges movie.

Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

What happened to that The Slog blog fellow's prediction of a March 23rd Greece D-Day? It's March 23rd today, so I see. I got the impression that he and his 'informers' were confusing what they want to happen with what will happen (which is still up in the air).

taraxias's picture

Give the guy a break, at least he's not on the dark side, he's like us.

And he did post that other more recent events place the March 23 date in doubt. Go to his blog and read the details.

The March 23 might have been off but the event soon taking place isn't, sources or sources.

BandGap's picture

More Euro loan sharking.

unclened's picture

and so the death spiral begins!!!


on a side note, I am deeply disappointed to see that ZeroHedge has adverts for Alpari on two locations, enticing people to make financial spread bets, when the blog and it's commentators constantly disparage the wall street casinos and their derivatives.

Come on Tyler, live by the sword and die by the sword!

Chump's picture

Those ads are based on your browsing history.

unclened's picture

in that case it'd be adverts of animals, lubricant and video cameras!

Just kidding, probably cos I have ties with banksterism!

HD's picture

Dr. Market, my Eurosis is acting up. It burns when I print, and I have sharp pains in my can kicking foot...