Situation Calming Down In Europe
Looks like politicians have managed to calm the markets down with words of support for a Greek bailout. Apparently the newly issued debt will be junior to the one outstanding. There is even some talk that the program would be a fully funded 2-year program. This means something like $100 – $150 billion.
Greek government bond yield eased a little bit.
Chart 1. Greek Government Bond Yield Curve
Source: Bloomberg
The DJ Euro Stoxx 50 managed to stay above trend-line.
Chart 2. DJ Euro Stoxx 50
Source: Bloomberg