Bill Gross thinks the chances there is a deal in Greece are less than the 50/50.
In a tweet on Thursday, Gross sent a tweet from the Janus Capital account — where he manages the Unconstrained Bond Fund — that said he sees the chances at 40% for and 60% against Greece reaching a deal with its creditors.
Gross: Reparations or Austerity for Greece? Both sides have a different point of view. 40/60 odds of a deal now.
— Janus Capital (@JanusCapital) June 25, 2015
The Greece news flow over the last few days has been fast and furious, but the short of it is that right now, there is no deal in place for Greece to repay its creditors next Tuesday.
This could possibly lead to Greece defaulting on its payment due to the IMF, though since Greece is paying the IMF — which isn’t like a company paying back the people that lent it money — it would be considered in arrears with the IMF.