Thursday, January 05, 2012

Report: Greek Debt Deal Near

by Bill McBride on 1/05/2012 07:30:00 PM

From the WSJ: Greece Debt Negotiations Move Toward Deal

The Greek government expects to wrap up talks seeking a 50% writedown on its debt owed to creditor banks by the end of this month ... Greece has agreed to consider that the new bonds be governed by English law, which means creditors would be allowed to seize Greek assets if the country fails on its payments. ... "If nothing changes we are hoping to have an agreement within the next three weeks or even earlier," a senior Greek government official said.
Earlier this week I posted a few key dates for Europe, here are the next few (in addition to the Greek debt deal):
Jan 9th: German Chancellor Angela Merkel and French President Nicolas Sarkozy meet in Berlin.
Jan 24th: EU finance ministers meet in Brussels.
Jan 30th: European Union leaders meet in Brussels on debt crisis.
Meanwhile the Italian 10 year yield is back above 7%, and the Spanish 10 year yield is up to 5.64%.

Earlier:
Reis: Apartment Vacancy Rate falls to 5.2% in Q4, Lowest since 2001
ADP: Private Employment increased 325,000 in December
Weekly Initial Unemployment Claims decline to 372,000
ISM Non-Manufacturing Index indicates slightly faster expansion in December
Employment Situation Preview: Improved, but still not strong