Euro Rises As A Spanish 2014 Bond Is Solidly Bid And Eurocrats Agree In Principle To A 3 Year Adjustment Plan For Greece

Euro Rises As A Spanish 2014 Bond Is Solidly Bid And Eurocrats Agree In Principle To A 3 Year Adjustment Plan For Greece

Tyler Durden relates “In a litmus test of investor appetite for peripheral euro zone debt as policymakers thrash out a plan to avert a Greek default, the 2014 bond, with a 3.4 percent coupon, sold 2.75 billion euros at an average yield of 4.037 percent. That compared with 3.568 percent at the previous auction in April, while the bid to cover rate rose to 2.5 compared with 1.8.”

And Mr. Durden relates: “Just out from Reuters. According to a source, programme will involve new international funding to mid-2014, apportionment yet to be agreed. According to a source senior Eurozone officials agree in principle on new 3-year adjustment plan for Greece. According to a source, private sector involvement will be limited to avoid a credit event.”

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