Greece In Bigger Trouble Then Thought
I just read that Greek bonds, which only 5 short months ago recorded a new record high yield of 100%, are now at 920%, very close to a 1000% yield!
The S&P's rating action (from CC to Selective Default) and the subsequent ECB decision not to accept Greek bonds as collateral in light of the S&P rating's action has reduced these bonds to virtual scrap paper. The yield rises as the bond price
