I asked about new Greek bonds and the Wall Street Journal has answered. They have a story about the grey market (more of a ‘when issued’ market) that began trading yesterday.
The “bid” price for a batch of future Greek bonds due in 2042, or the highest price the dealer was willing to pay, was around 15 cents on the dollar; the “offer” price, or the most the dealer was willing to sell at, was 17 cents on the dollar, the first person said.
I was alerted to the story by this smoky Bloomberg headline:
Pass that over to Portuguese leaders who say they won’t ask for more time or money.
