Thursday, April 8, 2010

Greek Borrowing Costs Soar

Bloomberg details:

Greek bonds dropped, sending the yield premium over German debt to the widest since the euro’s inception, and stocks tumbled on speculation that the bailout of Europe’s most indebted nation will unravel. The yen rallied.

The Greek 10-year spread to benchmark German bunds widened to 436 basis points at 8:15 a.m. in New York. Greece’s ASE Index of stocks slid as much as 5.2 percent, the most in four months, and the cost of insuring against a default by the nation climbed to a record. The Stoxx Europe 600 Index tumbled 1.1 percent and futures on the Standard & Poor’s 500 Index slipped 0.4 percent. The euro weakened for a fifth day against the dollar, and the yen advanced versus all of its 16 most-traded counterparts.

Source: Barclays Capital


  1. Bro its over 7% today, gonna need hourly updates as they collapse...

  2. When they set that CDS spread number at 450 early week as a line in the sand you just knew it was coming right up. This market is calling all governemnt bailout bluffs at this point, something I wish our FED/Treasury would consider very carefully.

    A few posts ago I certainly meant no offense with my comment about the birth rate information. I think you know I really appreciate all the hard work it takes to make this site, I just felt differently about what it might have meant. Add to this I am wrong most of the time anyway and there you go!

  3. GYSC- no worries! i hope we don't always have the same opinion... that would be boring.