10 yr Greek bond yields down 595 basis points......

A

ASusilovic

short covering de luxe...



Greek, Portuguese and Spanish bonds surged and German bunds slid after the European Union crafted an unprecedented package of measures to tackle the region’s sovereign debt crisis.

The gains drove yields on Greek two-year notes down by 890 basis points after the 16 euro nations agreed to offer financial assistance worth as much as 750 billion euros ($962 billion) to countries under attack from speculators and the European Central Bank said it will buy government and private securities for the first time in its 12-year history. Portugal’s two-year yields slid 174 basis points. Spain’s declined 73 basis points.

http://www.markit.com/cds/cds-page.html
 
Quote from Debaser82:

They will print money untill we run out of trees!:D
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Well, as long as some of this inflationary "paper" lands in my portfolio, everything is just fine...:)
 
As expected, the Greeks are screwed. The hedge funds who loaded up on this crap over the past few months will buy themselves more Masseratis and beach estates. The banks who loaded up on the crap for years will be made whole and can pay their executives hundreds of millions in bonuses.
 
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