Yesterday, 9:21 AM
Thu, Apr. 16, 7:58 AM
- A big move even for notoriously volatile Greek debt, the yield on the country's two-year notes soar nearly 400 basis points to over 27% in the wake of another downgrade and growing fear the country will default again. The yield on the 10-year notes are up more than 100 basis points to just under 13%.
- Source: WSJ
- Making default and/or EMU exit even more likely this time around is the fact that most believe the rest of Europe has walled itself off from any contagion (see Stan Druckenmiller's thoughts).
- Previously: S&P cuts Greece's credit rating (April 16)
- GREK -1.9% premarket. NBG no trades.
Wed, Apr. 15, 9:18 AM
Mon, Mar. 23, 9:11 AM
Thu, Mar. 19, 9:16 AM
Wed, Mar. 18, 12:45 PM
Wed, Mar. 18, 9:12 AM
Mon, Mar. 9, 9:12 AM
Thu, Mar. 5, 9:10 AM
- "You could easily say the ECB is the central bank of Greece," says Mario Draghi, noting the ECB has lent the country €100B so far, or more than two-thirds of its GDP.
- QE, however, will have to wait for Greece, as Draghi says the ECB cannot buy that sovereign paper at the moment (it's junk-rated). As for the rest of Europe, the ECB will buy even paper that has a negative yield (and there's plenty of it in Germany). The central bank, he says, will buy debt all the way down to the current deposit rate (which is at -0.20%).
- NBG +2.8% premarket, GREK no trades, but stocks in Athens are marginally lower.
- Previously: Draghi press conference: QE getting underway next week (March 5)
- Previously: ECB to raise growth forecasts, lower inflation projections (March 5)
Mon, Mar. 2, 9:15 AM
Fri, Feb. 27, 9:15 AM
- Gainers: XIN +20%. CYCC +17%. SREV +16%. BLOX +16%. CYTX +13%. CLNE +12%. MNST +10%. ATOS +10%. SD +9%. SPLK +7%. MEET +6%. ARUN +6%. VIMC +6%. HZNP +6%.
- Losers: CVSL -42%. RESN -28%. MOSY -21%. WTW -18%. TUBE -17%. TBIO -14%. JCP -13%. DRL -13%. GENE -11%. OCN -8%. PBPB -8%. NBG -8%. NVAX -7%. FRO -5%.
Wed, Feb. 25, 9:24 AM| 3 Comments
Mon, Feb. 23, 9:14 AM
Mon, Feb. 23, 8:40 AM
- JPMorgan figures around €3B exited Greek banks last week, about a 50% increase from the previous week. The new pace of outflows means Greek banks are on track to run out of collateral for new loans in eight weeks as opposed to 14 weeks previously, says JPMorgan.
- Outflows accelerated last week amid the back-and-forth of whether the country was going to get its bailout extension. A deal was apparently reached on Friday and Greek PM Tsipras has declared victory and retreated. Theoretically, the money exit should slow appreciably this week.
- NBG +6% premarket, no trades yet for GREK
- Previously: Eurogroup heard from, Greeks awaited (Feb. 20)
Fri, Feb. 20, 12:56 PM
Fri, Feb. 20, 12:45 PM
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