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The Selling Of (New) Greek Bonds Has Resumed
Second day of trading in the new Greek bonds (GGB2). It took a whopping 24 hours for the selling to resume. Per BNP "Market heavy."
Year Mat Bid Ask CoD Yld Size
11Y 2023 26.00 / 28.00 -0.8 18.9 3MX3M 20 Bond Package*: 23.2 / 24.2 10MX10M
12Y 2024 25.25 / 27.25 -0.7 18.3 3MX3M GDP Warrant: 0.8 / 1.1 20MX20M
13Y 2025 24.50 / 26.50 -1.0 17.9 3MX3M
14Y 2026 24.00 / 26.00 -1.0 17.4 3MX3M Implicit Old GGB : 21.9 / 23.9 10MX10M
15Y 2027 23.75 / 25.75 -1.0 17.0 3MX3M
16Y 2028 23.55 / 25.55 -1.0 16.5 3MX3M *: weighted or un-weighted
17Y 2029 23.35 / 25.35 -1.0 16.2 3MX3M
18Y 2030 23.15 / 25.15 -1.0 15.9 3MX3M
19Y 2031 22.95 / 24.95 -1.0 15.7 3MX3M
20Y 2032 22.75 / 24.75 -1.0 15.5 3MX3M
21Y 2033 22.60 / 24.60 -0.9 15.3 3MX3M
22Y 2034 22.50 / 24.50 -0.8 15.1 3MX3M
23Y 2035 22.50 / 24.50 -0.7 14.9 3MX3M
24Y 2036 22.50 / 24.50 -0.6 14.7 3MX3M
25Y 2037 22.50 / 24.50 -0.5 14.6 3MX3M
26Y 2038 22.50 / 24.50 -0.5 14.4 3MX3M
27Y 2039 22.50 / 24.50 -0.5 14.3 3MX3M
28Y 2040 22.50 / 24.50 -0.5 14.2 3MX3M
29Y 2041 22.50 / 24.50 -0.5 14.1 3MX3M
30Y 2042 22.50 / 24.50 -0.5 14.0 3MX3M
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Are these net off the haircut or a revalued at 100 bond? Either way it's a train wreck.
I think these are the new & improved bonds.
Best return on planet!
P.S. Look at that Ask/Bid spread for 11Y. Ouch!
Its 2 pts across the board. And flow looks very weak, good luck actually getting a decent price. Nobody's packing size either.
It's not so much the size as it is the toxicity.
?
Its GGB2. There was no bond at 100, only in theory or according to the politicians - this is Greece, remember.
It's not hard to set up, break down then reset those streetside 3 card monte tables.
I feel like i'm taking crazy pills
You can have one if mine if your not...
Sign me up for a baker's dozen please.
...and "Greece will return to the capital markets soon". LOL. Train meet wreck.
"capital markets" = Central Banks. Hence, "Greece will return to the..."
Bravo.
how many days (hours) till the ECB starts buying...
and the entire circlejerk starts anew
No ECB buying going to happen here. They need Portugal, Spain, and Italy to appear "normal" compared with the Greece basketcase.
chemical attraction to addictive debt causes inevitable conclusion.
Loan shark. Wow, nothing says success like those rates. When does the fucking Kool-Aid wear off in Greece?
I need help! Can anyone provide me with some reliable Info about :
1. Who owns Wilmington Trust?
2. Who controls Wilmington Trust"?
I need this information for a questioning hour in German Parliament related to the Greek Bailout Package. Thanks a lot in advance.
Spreads are as tight as Pamela Anderson after a botox malfunctioning.
Imperialism and loansharking are perfectly identified ...identified, exactly as imperialism used to be identified with war conflicts. This is why we believe that the consequences of some “mistakes” easily reveal the “motives” of those who planned them.
In reality, there is a permanent “recycling” of the same tactics that lead to the mistake and then to disaster. The method used in the case of Greece is a version of the practice that started from the imperialistic centers to expand all over the world. Simply, in Greece, that is a “terminal”, banking illegal superprofits were produced so that loan sharks “spoil” the Greek public assets, while at the “center” of the planning banking superprofits were created so that loan sharks “spoil” the "Greeces”. Exactly the same illegal things were planned to bring profit to their loan sharking inspirators ...illegal profits.
More info about Global Debt Crisis here:
http://eamb-ydrohoos.blogspot.com/2012/01/global-debt-crisis.html
.
Vote up!
I need help! Can anyone provide me with some reliable Info about :
1. Who owns Wilmington Trust?
2. Who controls Wilmington Trust"?
I need this information for a questioning hour in German Parliament related to the Greek Bailout Package. Thanks a lot in advance.
Wilmingtopn Trust wholly owned by M&T Bank Corp, Buffalo, NY. Controlled by same.
Sorta surprising that these are tradeable.
OTOH, the "voluntary participants" who were given money to sweeten their deal and buy their participation would want out of that game before these new bonds get a haircut, too.
Risk is a four letter word..in the land of unicorns. That's Gum drop Mountain over there. Its impossible to wear a frown in Candy Mountain.
http://www.youtube.com/watch?v=-FfqyGTk7g8
I think Greece should start a lemonade stand.
That will be 200% of your first year revenues and a 6 month waiting period to make sure there arent any infringements against you.
I should add...If your lucky.
Greece will be just fine. People are overreacting re bailouts and restructuring of debt.
Its evident the country has lived well beyond its means for over 20 years and now needs to rebalance its economy. This will take time but eventually it will succeed because THERE IS NO OTHER CHOICE.
Exiting the euro for the drachma would be a disaster of monumental proportions. It would set the country back 50 years.
History shall repeat itself in a far greater scale and therefore the benefit for the leading roles shall be much greater. If ancient Greeks won the battle against the barbarity of the East in favour of Europe, then modern Greeks are those who are meant to win the battle against the barbarity of both Eastern and Western world in favour of the human kind. The world has become a little “village” and in this “village” everyone knows what the character of the others is.
Germany, the disgrace of Europe:
http://eamb-ydrohoos.blogspot.com/2012/02/germany-disgrace-of-europe.html
Authored by Panagiotis TRAIANOU
There is another choice. Governments (all, not just Greece) could spend only what they take in through taxes. Citizens could be informed that whatever services they desire will have to actually be paid for by the current generation, not the unborn.
You speak in generalities and then assume that your generalities will be enforced simply because the alternative is unthinkable (to you). The unthinkable is guaranteed to happen now because no one will admit that the pain has to occur. Either we take our lumps now or the economy is destroyed. The longer we prolong taking our pain, the worse it becomes, until we reach the point that pure economic destruction is guaranteed no matter what we do. IMO we've already crossed that event horizon. What happens from here on out is simply entertainment for those of us who saw the writing on the wall 3-4 years ago.
But that is the plan - Greece is cutting back spending to a level of what they take in through taxes.
Not from what I've seen. All I read about is restructing the debt so they can continue to access the capital markets. If their budget is balanced, they need no access to capital markets. Tautology 101.
well their budget is not balanced yet but deficit is coming down from the stratosphere it was when this saga began. You need to give it some time.
Well, greecerules, the present plan of sticking with the Euro sets them back 75 years, so far - and it will continue to fail, as it has for the last two years. They have to find a new path to growth, and sticking with the Euro currency ain't it, though staying in the Euro zone will probably happen.
sticking with the euro has set them back 75 years so far? do you seriously believe this?
greece remains a very wealthy country relative to historic standards. the problem is the federal government which is saddled with too much debt and too many expenses (mainly civil servants).
The EU plan to restructure Greece's economy will work, you just need to give it some time. These are changes that greece needs to make irrespective of whether they stay in the euro or not.
LOL
via SAlpha