Thursday, Apr 08, 2010
Stay calm. Panic will make things worse
Zero Hedge: Freefall: Greek Bonds Tumble, 3 bps Away From Critical 450 bps Threshold, ASE Index Plunges 5%
Panic in Greece as total freefall envelops both the bond and the stock market. The 10 Year is now at an absolute record 447 bps spread to bunds, or in the mid 7's in absolute terms. The stock market has tumbled by about 5% and Greek CDS have surged to a record.
Posted by devo @ 01:56 PM (669 views) Add Comment
3 Comments
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1. alan said...
"Papaconstantinou said it will take some time for spreads to narrow and there will be no need for extra measures to shore up the nation’s finances as long as Greece’s stability pact is implemented “correctly,” according to an e-mailed transcript of his interview with ANT1 television" (Bloomberg).
Mohamed El-Erian, co-chief investment officer at Newport Beach, California-based Pacific Investment Management Co., said that Greece’s woes will “get worse before they get better.” (in the Financial Times).
Who do you believe? - can't see why anyone should panic now, people have known about these difficulties for ages!.
2. tyrellcorporation said...
The UK in about 2 months time!
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