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The volume of Greek paper protected by CDS drops to a record low of $3.16B ($5.6B a year ago)...

The volume of Greek paper protected by CDS drops to a record low of $3.16B ($5.6B a year ago) ahead of the debt exchange. With CDS pricing in a 97% chance of default, anybody with sense has likely booked profits before waiting to see what the ISDA decides.
Comments (2)
  • thechaser
    , contributor
    Comments (521) | Send Message
     
    "The Republic reserves the right at any time to waive any or all of the conditions of the Invitation as set out in this Invitation Memorandum."
    8 Mar 2012, 10:51 AM Reply Like
  • zubikov
    , contributor
    Comments (99) | Send Message
     
    This scenario has played out for so long, and all related securities are and have been so liquid, that as soon as any final verdict is reached, regardless of whether it's a outright default or not, the markets will rally because so few unforeseen circumstances will turn up.
    8 Mar 2012, 11:38 AM Reply Like
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