• humahuaca
    reports that Greek swap part rate is 85%, and the reports of 90% plus were based on CAC's being activated.
    3/8/12
    Reply (11)
    • humahuaca: Much better than the permadoomers (zh) expected.
      3/8/12
    • humahuaca: A meeting tomorrow will determine if CACs need to be used. If they really are this close to 90%, could they decide not to use them?
      3/8/12
    • humahuaca: Anyone know? And if they do not activate CACs, what happens to the holdouts? Will they be shut out, or given a few days to relent?
      3/8/12
    • Canary Cash: ZH and others are saying 90% is fictitious as 13% are under UK law (does that exempt them from CAC?)
      3/8/12
    • humahuaca: I think it's 90% (plus) with CAC's activated, and possibly some of the UK law bonds holders have already committed? Everyone still guessing
      3/8/12
    • humahuaca: Anyway, 85% would be pretty damn good, as that would mean virtually no holdouts as 13% or whatever of foreign law bonds not included.
      3/8/12
    • humahuaca: I'm only curious as I think it might mean if anyone did holdout, they could get zip. Plus it could give the mkt a little extra juice.
      3/8/12
    • Canary Cash: Yeah, I imagine we are going to have a sloshy day tomorrow when all is officially pronounced (un)well
      3/8/12
    • humahuaca: I don't see any bad Greece news at all, might be far better than expected. NFP number is another story,that will really determine direction.
      3/8/12
    • Inzaghi009: if ppl hold out, couldn't they just get paid out at the 50% loss or whatever, or potentially get it all back through CDS?
      3/8/12
    • humahuaca: Really not sure what happens to holdouts. But if CACs are NOT activated, it sure gets interesting.
      3/8/12