Thursday, April 22, 2010

Greece, Portugal Default-Protection Costs Soar

The cost of insuring Greek and Portuguese bonds against default is soaring in markets this morning and Greece’s benchmark 10-year bond yield rose to 8.564 percent, more than twice the rate on bunds.

Greek bond spreads are at 562 bps, 3 years are at 870, and CDS is at 806.

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