via SeekingAlpha.com: Home Page by Calafia Beach Pundit on 4/21/11
Calafia Beach Pundit submits:
With Greek 2-yr debt trading at a yield of 22%, and spreads to Germany at record highs, the question the market is grappling with is not whether Greece will default, but by how much. As the chart below shows (HT: Zero Hedge), long-dated Greek bonds are now selling for 50-60 cents on the dollar, suggesting the market is expecting a default/restructuring that effectively reduces the
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