Thursday, April 22, 2010

RUMOR: No One Is Willing to Sell Greek Debt Default Insurance

The cost of government debt is rising almost vertically in Greece today, and rumour has it that no-one is willing to sell insurance against default by the Greek government, reports FT.

Data just taken from Reuters (via FT) shows 2-year government bond yields rising from 7.8 per cent yesterday to 10.38 per cent today, a jump of 255 basis points!

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