Since the beginning of September, yield on the Greek 10-Year bond has gone from 5.53% to 8.05% with a spike high of 9.28%.Inquiring minds may be wondering what's going on. More than likely yields are up for a number of factors.
The latest Greek deal is unraveling in multiple places already. The EMU wants to hold it together but can't. Cracks are wide, deep, and widening.
Greek Party Leader Might Seek to Renegotiate Terms
Social unrest harms hopes of Greek reform
Puerto Rico’s debt crisis escalated yesterday as the island stopped paying into a fund that pays its general-obligation bonds and one if its agencies defaulted for the first time. Without further financing, the government may run out of money in the months ahead, ratings company Standard and Poors said in a statement in Monday. Puerto Rico is due to propose a plan by September 1 for putting off payments on some if its debt.
Here’s what you need to know about Puerto Rico’s debt troubles:
Q: How does Puerto Rico compare to Greece?
Previously we reported that in a heretofore unknown exchange, Varoufakis told Telegraph's Evans-Pritchard that "if necessary we will issue parallel liquidity and California-style IOU's, in an electronic form. We should have done it a week ago." Shortly thereafter, SocGen released a note in which it confirmed largely what the Greek finmin may have said, namely that "Greece is likely to issue a form of parallel currency."