The Wall Street Journal
April 28, 2010
So it’s looking pretty ugly across the pond this morning.
Spreads between the debt of fiscally troubled countries — Portugal, Ireland, Italy, Greece, Spain — are continuing to widen versus German debt, a sign of growing stress. The blowout in Greek vs. German spreads is getting downright comical. On 10-year bonds, it was at more than 1.90 percentage points earlier this morning, with the Greek 10-year yielding just under 12%. All told the spread between Greek and German 10-years is around 850 basis points. Yields on Greek two-year bonds are also soaring. At around 8:30 a.m. Tradeweb was quoting the yield on the Greek two year at more than 22%.
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