Greece dragging other peripherals weaker by 5-10 bps
Small bull steepening in swaps, 2s30s 1-1.5 steeper

Subject: The greece market is essentially shut. A new wave of stops-out

The greece market is essentially shut. A new wave of stops-out
getting triggered today in Greece. The tickets are all small
and electronic but all one way. The market is very illiquid
even in b/marks. In the HDAT the on the runs were quoted
in tiny at start of day now there is nothing – last looked like

GGB 4.3 03/12 (644.1bps vs core, +76.0)
GGB 6.1 08/15 (570.0bps vs core, +52.5)
GGB 6.25 6/20 (428.1bps vs core, +21.0)
GGB 4.6 09/40 (330.6bps vs core, +12.7)

the linker 2.3 30 is trading with 4points bid-offer now.

2 Responses

  1. The Bank of Greece announced new short selling rules that try to penalize naked transactions by forcing such trades to be covered by purchases via post trade auction prices.

Leave a Reply