Wednesday, March 31, 2010

Greece Plans to Sell Global Dollar Bond by Early May (Update1) - Bloomberg.com

This is what happens when a bankrupt nation sells bonds.

Remember these numbers. 10 year notes at 6.58.

We'll revisit this issue in 6 months.

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

San Francisco

Greek bonds fell for a third day, pushing the yield on the two-year note up 17 basis points to 5.22 percent as of 10:26 a.m. in London. The 10-year yield increased 7 basis points to 6.58 percent. The seven-year notes sold on March 29 have fallen 2.3 percent since issue.

The extra yield, or spread, that investors demand to hold Greek 10-year bonds instead of benchmark German bunds climbed 12 basis points to 345 basis points, the most since Feb. 25.

http://www.bloomberg.com/apps/news?pid=20601087&sid=apLIYrttdcLc&pos=1