As the sun sets in Athens, we thought a moment of reflection was worthwhile. Greek stocks are now down 13% - the biggest single-day drop since (drum roll please) the crash of 1987... led by total carnage in Greek banks (down 15-25% on the day). Greek bond yields exploded, 3YR +183bps to a new post-bailout high at 8.32% (and inverted to 10Y).
Worst day since the 1987 crash for Greek stocks...
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As every smart money hedge fund traders best trade of the year - Greek Banks are destroyed...
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leaving 3Y bond yields smashed higher...
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h/t @Not_Jim_Cramer
