Took a drubbing when the
bond markets opened this morning;
Investors dumped Greek bonds on Monday, after talks on ending a
deadlock between Athens and its international creditors broke down at
the weekend and the prospect of a debt default drew dramatically closer.
Greek government bond yields spiked to the highest and stocks fell to their lowest since April.
The two year bond rose to almost 30%--which, conversely, means its price fell.
“A default of some sort is now all but a certainty,” said Yiannis Koutelidakis, senior economist at Fathom Consulting in London.
'Default of some sort', has been certain for some time. What's in doubt are the specifics.
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