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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated
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To: bustersmith who wrote (26479)6/22/2011 5:56:39 AM
From: Giordano Bruno  Read Replies (1) of 119360
 
Reuters) - The cost of insuring Greek government debt against default rose on Wednesday, as markets turned their focus on future hurdles for Greek Prime Minister George Papandreou after his win in a confidence vote overnight. "Market participants are aware that the vote was only the first hurdle that had to be cleared for Greece," Markit analyst Gavan Nolan said.

"The government still has to get the austerity measures through parliament, then the eurozone governments have to sell their plan for private sector participation to the markets."

Five-year credit default swaps (CDS) on Greek government debt rose by 57 basis points to 1,900, according to data monitor Markit. This means it costs 1.9 million euros to protect 10 million euros of exposure to Greek bonds. (Reporting by Marius Zaharia)

reuters.com
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