The yield or return on Greek 10-year bonds hit 7.5% for the first time since Greece adopted the euro in 2001 -more than double the rate on the German 10-year bond at 3.09 percent.
“Greece continues to look like a slow-motion train crash,” Steve Barrow, head of Group of 10 currency strategy at Standard Bank Plc in London, wrote in a report. “The crash has not occurred yet but it is coming. Efforts to avoid a crash seem doomed to failure, whether it’s emergency loans or some other initiative. Bond spreads are likely to widen much further," according to Bloomberg.
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