Monday, March 29, 2010
Greece Raises $6.7 Billion in Bond Sale
Continuation of the situation overseas. Just days after European Union leaders agreed to stand behind Greece as it struggled to restore its public finances, the authorities in Athens put their new guarantee to the test Monday, selling 5 billion euros of seven-year bonds to refinance debt.
Subscribe to:
Post Comments (Atom)
It was interesting to see how much lower the demand was for these bonds versus the ones offered early March at a much lower yield. Even with the backing of the EU, other countries/investors are not willing to take a risk on Greece. I think this is most likely because of the concern for the much higher rate and whether or not Greece will make good on these bonds in seven years. I guess we will have to wait and see.
ReplyDelete