Would you buy 10y Greek Govies ?

[Chuck]

"If this information is correct, it is all over. Bloomberg calculates the yield on the Greek 3 Month as determined by the bid, or where investors are willing to buy it, based on BVAL sources at 21.3%. In all honesty the bid/offer market in the 3 Month are all over the place. HDAT gives it as 99.650x99.840, BVAL is at 99.470x99.773. The HDAT bid implies a yield of 14.049%, which is still game over for Greece."



http://www.zerohedge.com/article/greek-curve-goes-apeshit-bloomberg-reports-3-month-bid-213

[Cheng]

------------------------------ snip ------------------------------



European Union officials have reached an agreement in Brussels today on funding a backstop deal for Greece.



The package will be a single "one-stop shop" between the other 15 Eurozone members, the EU's institutions, and the IMF. If Athens wants to tap the €20-25-billion fund, it will have to apply to both the EU and the IMF jointly. The EU's share of the finance will take the form of bilateral loans at a rate higher than that of the IMF (3-month euribor + 275 basis points) but well below those prevailing in the market.



Greece 385 - 400



------------------------------ snip ------------------------------

[Martinghoul]

Hahahaha, all this immediately followed by a 2 notch Fitch downgrade. Seriously, you can't make this stuff up.

[Graeme]

At least the rating agencies are contra after the fact rather than before like they used to be, and hence, less dangerous.

[zion]

I stopped reading Zerohedge after they bought a Bloomberg and copied their shit all over the place