> On Apr 11, 2014, at 1:53 PM, <[email protected]> wrote:
>
> "Marv Gandall" <[email protected]> wrote:
>
> > It's either irrational exuberance that the worst is over for Greece and the
> > other peripheral countries. or, more likely, a recognition by bond traders
> > that the eurozone deflationary crisis is deepening and yields have further
> > to plunge, supported by stepped-up ECB bond-buying to counter the
> > deflationary threat)
>
> Greece was able sell its 5 year bonds for 4.75%. Although that isn't bad in
> historical terms, the rate is much larger than the more financially stable
> countries pay.
That's true, but the spread with German Bunds is the lowest it's been since the
onset of the economic crisis.
That may be cheering news for Greek government and eurozone officials and the
central banks and other investors holding mountains of Greek debt, but does
nothing for the +25% official unemployed in the country.
_______________________________________________
pen-l mailing list
[email protected]
https://lists.csuchico.edu/mailman/listinfo/pen-l
