Thursday, March 04, 2010
The word so far is that the Greek bond sale is being well received today with almost $10 billion in offers for less than $7 billion in debt for sale. The premium investors are demanding is roughly three percentage points more than for German bunds, the benchmark for the euro area, where they continue to remain very cool to the whole idea of a bailout.
They are still protesting in Athens, though groups aligned with the Communist Party are probably not going to get much sympathy from the EU after they do things like take over government buildings following Cabinet approval of the new austerity measures.
The Greek government seems to have done their part for now, though that hasn't stopped hedge funds from betting against the euro.