Tuesday, February 21, 2012

After Default Staved Off, Greek 1 Year Bond Hits New High of 682%

But....but.....I thought Greece was saved!?!
Apparently the market is starting to think like ole GW.... 'Fool me once, shame on — shame on you. Fool me — you can't get fooled again.'
After last night's 3am (local time) announcement of the latest and greatest Greek bailout rescue, the market has responded today by driving the Greek 1 year yield to 682%, a NEW all-time high!!!

Govt Bond 1Year Yield (GGGB1YR)

Open: 566.81300 High: 682.32800 Low: 566.81300