Markets expect Greek Default

Markets expect Greek Default

Published on 29/03/2012

New Greek bonds are priced at 22 cents in the $ or in other words, the market is expecting another credit event. To protect against default, insurance was last quoted on March 9, when a buyer of protection would have had to pay $7.8m up front to insure $10m of debt against default ie the market was predicting a near certain default on new Greek bonds resulting in large capital losses for investors.

What are you doing to protect your wealth?29

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