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Just as an FYI, all the Greek gov'ts official estimates for the next two years assume an average bond yield rate of 4.5% and 2% contraction. The contraction at this point may be greater, and the bond yields at 5% and recent deals at 5.9% may drive up their portfolio above that 4.5% peg, which would make Greek estimates shy of the reality.

So, it's hard to say whether this is a good thing.

On the positive side, the long-term bonds that are maturing were sold BEFORE Greece entered the eurozone in 2002, and those bonds had a hefty yield in the 7% range.

by Upstate NY on Sun Apr 11th, 2010 at 04:32:19 PM EST
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