As we explained in detail yesterday [5], between governments hopes to exit the bailout program early (in order to save their election) - which the market does not like the idea of - and fears over the reality of OMT, Greek markets are tumbling. Greek stocks are down over 9% - the biggest plunge in 6 years and bond yields are surging... it appears the market is demanding Draghi get back to work as the "whatever it takes" gains have been halved (Greek stocks -35% from March 2014 highs).
- *GREEK ASE INDEX FALLS 9.3% BIGGEST INTRADAY DROP IN 6 YEARS
Greek stocks are down 8% and have retraced at least 50% of the "whatever it takes" gains...
[6]
And bond yields are surging...
[7]
Charts: Bloomberg
