Bad news getting worse: "Yield on Greek Two-Year Bonds jumps to 13.5%"

As posted by Calculated Risk, the spread on Greece notes continues to rise despite the "reassurance" from the Greek government, the IMF, and the European Union. At this point it appears Greece is definitely going to default unless the European Union completely bails out the Aegean nation. I doubt this will happen.

 

 

Sent to you by Bo Howell via Google Reader:

 

 

Yield on Greek Two-Year Bonds jumps to 13.5%

via Calculated Risk by CalculatedRisk on 4/26/10

From the Financial Times: Greek bond markets plunge again

The yield on two-year Greek government bonds ... jumped 3 percentage points ... to close at 13.522 per cent.

This is the highest yield on short-dated government debt in the world ...
excerpt with permission

This is now higher than Venezuela at 11%.

The yields jumped for some of the other PIIGS too (Portugal, Ireland, Italy, Greece and Spain). For Portugal the two-year yield increased more than 3/4 of a point to 3.98%.

 

 

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