Greece Is Suddenly Looking Way Better And Bond Markets Are Loving It

miss greece

Greece is suddenly looking far better if today as Greek media has reported that the nation’s government will finally present a formal bid for IMF help.

L.A. Times:

“The die has been cast, Greece is turning to the EU/IMF aid mechanism today, the relevant announcement will be made at 1200 local,” Greek daily To Vima’s website wrote, without citing sources. Other media repeated the news.

Greek 10-year bond yields are breathing a sigh of relief, and have fallen from the 8.80% range down to about 8.15%, according to Bloomberg. That’s still a disturbingly high yield, but it’s a huge improvement for a single day.

The announcement could be coming very soon.

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