Greek, Irish, and Portuguese yields are at or flirting with new all-time highs. Moreover, things are not looking pretty for Spanish and Italian bonds. Both trade at the upper end of their respective ranges yet German bond yields have fallen since the second week in April. The prospect of a messy default in Greece is [...]
The market is about ready to slap ECB president Jean-Claude Trichet smack across the face with a hard dose of reality regarding Greek debt restructuring. Please consider Greek Rescue Package May Be Delayed by EU Disagreements on Investors’ Role An emergency session of finance ministers in Brussels late yesterday failed to reconcile a German-led push [...]