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Tuesday, April 27, 2010

Morning Greece: Contagion Concerns

by Calculated Risk on 4/27/2010 08:24:00 AM

Greek government debt yields increased again this morning (ht Mike), from Bloomberg:

Click on graph for larger image in new window.

From Bloomberg: Portugal Suffering Greek Contagion Pressures EU Bonds
With a higher debt burden and a slower 10-year growth rate than Greece, Western Europe’s poorest country is being punished by investors as the sovereign debt crisis spreads. ... Portugal’s credit default swaps show investors rank its debt as the world’s eighth-riskiest, worse than for Lebanon and Guatemala.
From Bloomberg: Greece Bond Losses to Be ‘Significant,’ Buiter Says
Greece is likely to default or inflict “significant” losses on bondholders unless it receives more generous terms on its planned aid package, according to Willem Buiter, chief economist at Citigroup Inc.