Concerns About Greek Bond Plan Rattle Markets - WSJ.com

Rising concerns about a planned Greek bond offering rattled investors across Europe and reignited expectations that Athens will require more the rhetorical support from European Union leaders to solve its fiscal crisis.

Greece plans to issue a 10-year bond next week, after the government announces a new austerity package that will reduce spending between €2 billion and €2.5 billion ($2.7 billion to $3.4 billion), people familiar with the situation said. The government hopes to raise €3 billion to €5 billion from the offering.

http://online.wsj.com/article/SB10001424052748704479404575086892236735272.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsTop

This'll be fun.

I've got a bet that the new securities yield 100 basis points more by this time next week.

* * * * * J B K * * * * *

San Francisco