Greek Bond Yields Explode as 1 year moves 100 bps to over 752% in One Day
Greek Bond Yields Explode as 1 year moves 100 bps to over 752% in One Day
by John Galt
February 22, 2012 05:30 ET
In what can only be called a determination of default by investors, the sell off of Greece’s short term debt tells a tale of woe. The 1 year bond yield moved from yesterday’s close of 652% to 752% overnight while the 2 year moved a whopping 20 bps from 192% to 212%. If this isn’t the true vote on the alleged ECB/IMF “bailout” I do not know what is. This is a nation falling into disarray, default, and ultimately anarchy if they do not act to withdraw from the European Union and re-establish their own currency. The Icelandic solution may not be pretty, but there will be no private buyers for Greek debt after the CAC law are enacted.
Well, after what the EU bankster high command pulled...
With declaring ex post facto that bondholders have no rights to be paid in accordance to what they signed up for, I'm not surprised. No one with two brain cells would buy Greek debt now, without at least two loaded guns pressed against his head.
I do agree with that assessment as well, rlm...
Quote:
Originally Posted by
rlm1966
Actually the question is why would the buy in Euro bonds as what has been done in Greece will surely be done for Italy, Spain and Portugal at some point and maybe for some others like France.
It's just that the thread's OP was about Greek debt, so I restricted my comment to that.