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Read More: Alexis Tsipras "Open Letter" to German Citizens Regarding Extend-and-Pretend Unserviceable Debt
More: Asset Price Deflation Coming Up? Food Prices About to Drop? CPI About to Go Negative? Credit Deflation?
The yield curve may look strange to some, but here’s the three-part explanation: Mid-range bonds will be hammered the most in any haircut deal. Yield on the 3-month bond spiked since the end of December. The market is pricing in the possibility of a default, but not within 3 months. National Bank of Greece 15-Minute Chart Shares of National Bank of Greece closed about 22% lower today. At one point they were down about 28%
Bloomberg reports Raiffeisen Debt Signaling Distress as Currency Woes Mount Raiffeisen Bank International AG (RBI)’s junior bonds slumped to levels typically viewed as distressed after gains in the Swiss franc added to woes triggered by the tumble in the Russian and Ukrainian currencies. Subordinated bonds sold by the Vienna-based lender slid as low as 63.4 cents on the euro, with yields of as much as 10 percent, after trading at 91 cents at the start of December, according to data compiled by Bloomberg
Bloomberg reports Greece’s Coming Clash in Europe Starts With Russia Sanctions . Prime Minister Alexis Tsipras’s Syriza-led coalition said it opposed a European Union statement issued in Brussels Tuesday paving the way to additional curbs on the Kremlin over the conflict in Ukraine, and complained it hadn’t been consulted.“Greece doesn’t consent,†the government said in a statement.
Financial Times writer Ferdinando Giugliano asks Is Greek government debt really 177% of GDP?
Originally posted here: Self-Driving "Fully Automated" Vehicles on German Autobahn; Supply Chain Math; Uber and Khan Academy
Even at the floating rate of 50 bolivars to the dollar, Venezuela’s currency woes an increasing threat to U.S.
