Thread: Greek Bonds In Freefall, Raises Concerns Greece Now Doomed

With Greek Bonds In Freefall, ECB Intervention Absence Raises Concerns Greece Is Now Doomed

Submitted by Tyler Durden
04/15/2011 09:34 -0400
27 comments

It seems that the ECB has now resigned to letting Greece fail. While previously any time we had a whopping 2 point drop in one day the ECB would promptly step in and be the buyer of only recourse in peripheral debt, it has been deathly silent today. And as the chart below demonstrates Greek debt is about to go bidless: a par 10 Year note is trading at 62, with the resulting yield now literally going parabolic. And the 2 Year is now at 16.5%. Luckily for a globalized economy, dominoes are completely isolated and what now appears to be a certain "chain reaction" in creditor defaults will have no impact on the Russell 2000: after all the Fed is surely prepared for this contingency.



http://www.zerohedge.com/article/greek- ... now-doomed

There Goes The Greekborhood: German Europe Minister Says Would Back Greek Restructuring

Submitted by Tyler Durden
04/15/2011 08:28 -0400
24 comments

Greek 10 Year-Bund spreads just passed 1,000 for the first time ever and were last trading north. Following this statement from Germany's Hoyer, it seems all hell is about to break loose for peripheral spreads.

• *GERMANY WOULD BACK VOLUNTARY GREEK RESTRUCTURING, HOYER SAYS
• *GREEK DEFICIT CUTTING MAY NOT BE ENOUGH, HOYER SAYS
• *GERMANY ‘WORRIED’ ABOUT GREEK FISCAL DEVELOPMENTS, HOYER SAYS
• *GREEK DEBT RESTRUCTURING `WOULD NOT BE A DISASTER,' HOYER SAYS
• *GERMAN EUROPE MINISTER HOYER SPEAKS IN INTERVIEW IN BERLIN



http://www.zerohedge.com/article/there- ... tructuring