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Greek 1 Year Bond 80% Away From 1000%
Today for the first time ever Greek 10 year bonds slide to below 20% of par (5.9% of 2022 dropped to 19.145 cents) as expected some time ago, as increasingly the revulsion to post reorg bonds gets greater and greater courtesy of that now meaningless cash coupon of 2% through 2015. When considering that the country will redefault within a year, it explains why nobody has any interest in holding Greek paper even assuming there is an EFSF bill sweetener. Also, today's ISDA decision did not help. What is most amusing is that as of this morning, the country's 1 Year bonds hit an all time high yield of 920.2%. Well, if Greek bonds crossing 100% just 5 months ago was not quite attractive, perhaps 1000% will. At this rate we expect said threshold to cross some time today.
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on a long enough time line all greek bonds are worth zero
Not according to the ISDA.
Party On Wayne..
http://www.e-radio.gr/player/player.asp?sID=1864
HA HA HA HA HA HA HA HA
OT: Andrew Breitbart dead at 43... http://bighollywood.breitbart.com/
Davy Jones yesterday... don't they say these things come in three? Glad I'm not famous... 43 is pretty damn young to go...
Whiteney?
too soon?
He looked like he was 53. I'm 42 and look 35. Dude did not age well at all.
Ever see Breit on tv? He always looked coked out.
What was the ISDA's decesion? No default for now I assume?
Almost correct....No ISDA default EVER.....
Not a credit event according to an article i read on marketwatch.
I don't think we see a default until most of the CDS expire.
SPOT ON
So in other words if they aren't going to honor the contracts then I suppose that might put a dent in the whole derivatives business? Derive something from nothing and derive ways to keep it all, permanetely.
Just like any other insurance company. Best thing in the world till you need it. They think all those premiums are there's to keep. My big worry is that tornado insurance will soon become like flood insurance, big $ you can either afford it or not.
These bastards gravitate anywhere we aren't being screwed. The latest involves one of your lowest monthy bills: water. Now they say that's expected to triple. I am so sick of this shit.
F'n joke!!
This is what happens when the fox owns the henhouse!!
*LOL*
Good one, ISDA...
The investment of a lifetime!
Guaranteed 1000% return, ACT NOW!
Seriously, the world has gone totaly insane. Really I want off this stupid ride.
I'm going to ask this with small words: does this mean the Greeks are to pay back eleven dollars for every one dollar borrowed, just one year from when they borrow it? Because that's just crazy.
Some pension fund will buy it chasing returns......
As we in the Borscht Belt Catskills say, "Such a Deal!!!"
MF Global...how did that workout?
I am trying to buy Greek debt with my cash balance in my MF Global account.....score BABY!!!!!!! Can you say More money more money more money!!!!
Great for my IRA!....1000%.....even my "high yield" bank only gives me 0.01%........
I better load up on these bonds....quick!
(sarc)
Hell, yeah. I got to get me a piece of that 1000% action!
How could I lose????
This is a bizarre market when an instrument that has not seen a trade for a year or more, is being constantly repriced. The price should be set by the last trade.
Dont worry, no credit Event!
The comedy is almost getting funny.
The Greeks know for comedy and tragedy. I'm expecting a lot more of both.
And still no talk of how absurd this is, outside of Zerohedge. Sounds like were going to 10,000%
I guess at some point you'll be able to risk a dollar and be a millionaire if it pays off.
If something has no intrinsic value, it is by nature... worthless.
with apologies in advance Ty- but who the fuk is selling greek bonds at 800%??
Whoever bought them from the Greek government at 5% and now prefers to collect a few cents on the dollar today rather than 0 cents on the dollar at maturity.
COME ON 20,000%!!
Someone please explain to me why anyone would ever buy a Greek bond?
Some people are just into that kinda kink, OK? Besides, it's not like it's the fund manager's money or anything.
The Greeks plain and simply need to default.
http://www.allthingsluxury.biz/
three months ago i couldn't spell BOND TRADER...now i are one
"Greek 1 Year Bond 80 bpp Away From 1000%"
Fixed that for you! 80% AWAY FROM 1000% is 200%
Forget Greece but regarding the bond market in general, who will buy bonds down the road if....
CACs force cram downs on the bond holders and CDS won't be paid? Seems to me some much larger coupons will be demanded in the future.
I'm just an old redneck so forgive me if this sounds a bit naive. I prefer my gold, silver, and lead for investments :)
1000% yield guaranteed? Sweet!
That bond haircut...is that on par value or dollars paid? hmmm
get any tax breaks or perks for buying?
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