Everyone has moved on to Italy — it even got the NYT treatment today — but Greece seems miffed at no longer being the centre of attention.
We only say that because Greek yields are surging to totally brand new records: over 31% for 2-year debt, after having briefly dipped to near 25% right after the Hellenic Parliament passed the bailout.
Of course, now that “selective default” is on the table as a Greek option, it makes sense that bondholders are eager to dump whatever they’re still hanging onto.
And yes, this blowout is the story across Europe today.
Italian short-term yields are at fresh highs vs. German Bunds.
Portuguese yields up.
You get the drill…